Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 7

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 7
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20,000 per month                                                                                                                           |     |                                                                                                                                                Office space and administrative services |
| Undetermined, of which up to $1,500,000 may be converted, at the discretion of the holder, into private units at a price of $10.00 per unit |     |                                                                                                         Additional loans to be made by Sponsor, officers, directors or their affiliates |
| Undetermined                                                                                                                                |     |                                                       Reimbursement for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination |
| $350,000                                                                                                                                    |     | Fee owed to Celine & Partners, PLLC (“Celine”), which is controlled by Mr. Hui Chen, the husband of Ms. Chen Chen, who controls the Sponsor, for legal representation for this offering |
| $10,000 per month                                                                                                                           |     |                                                                            Monthly retainer for ongoing legal representation following the consummation of the Initial Public Offering. |

Listing of Securities

The SPAC Units, SPAC Ordinary
Shares and SPAC Rights are currently listed on the Nasdaq Global Market under the symbols “PELIU,” “PELI” and
“PELIR,” respectively. PubCo intends to apply to list the PubCo Common Stock and PubCo Warrants on the Nasdaq Stock Market
under the symbol “GLND” and “GLNDW” in connection with the closing of the Business Combination. SPAC cannot assure
you that the PubCo Common Stock and PubCo Warrants will be approved for listing on Nasdaq.

Redemptions

Pursuant to SPAC’s Second
Amended and Restated Memorandum and Articles of Association (the “SPAC Articles”), SPAC is providing its public shareholders
with the opportunity at the Extraordinary General Meeting to redeem all or a portion of their SPAC Ordinary Shares at a per-share price,
payable in cash, equal to the aggregate amount then on deposit in its Trust Account as of two business days prior to the consummation
of the Business Combination, including interest, less taxes payable, and subject to the limitations described herein. SPAC estimates that
the per-share price at which SPAC Ordinary Shares held by the public (the “SPAC Public Shares”) may be redeemed from
cash held in the Trust Account will be approximately $[ ] at the time of the Extraordinary General Meeting.

As of [ ],
2025, there was approximately $[ ] in the SPAC’s trust account of (the “Trust Account”). On
[