Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 33

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 33
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 by the Laws of the Cayman Islands and will be governed by Texas Law. |

| Q: | HOW WILL THE CONVERSION AFFECT MY PUBLIC SHARES, RIGHTS AND UNITS? |

| A: | Prior to the Closing Date, SPAC shall transfer by way of continuation from the Cayman Islands to the State of Texas and domesticate as a Texas corporation in accordance with the Texas Business Organizations Code and the Cayman Islands Companies Act (as Revised). SPAC Merger Sub will merge with and into SPAC with SPAC being the surviving company and as a result of the SPAC Merger each SPAC Ordinary Share issued and outstanding immediately prior to the SPAC Merger Effective Time will be converted into the right to receive one share of PubCo Common Stock. Following the completion of the SPAC Merger, Greenland Merger Sub will merge with and into Greenland with Greenland being the surviving corporation, and as a result of the Greenland Merger, each share of Greenland Common Stock issued and outstanding immediately prior to the Greenland Merger Effective Time will be converted into the right to receive one share of PubCo Common Stock. Immediately following the consummation of the Greenland Merger, March GL Merger Sub will merge with and into March GL with March GL being the surviving corporation, and, as a result of the March GL Merger, each share of March GL Common Stock issued and outstanding immediately prior to the March GL Merger Effective Time will be converted into the right to receive pro-rata number of an aggregate 20,000,000 share(s) of PubCo Common Stock. Immediately following the consummation of the March GL Merger, PubCo will contribute 100% of the March GL Common Stock received pursuant to the March GL Merger to Greenland, with March GL becoming a wholly owned subsidiary of Greenland. |

| Q: | WHAT ARE THE MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES OF THE CONVERSION TO U.S. HOLDERS OF SPAC ORDINARY SHARES? |

| A: | For a description of the material U.S. federal income tax consequences of the Conversion, see the description in the section entitled “Material U.S. Federal Income Tax Considerations - U.S. Holders - Effects of the Conversion on U.S. Holders.” |

| Q: | WHAT ARE THE MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES OF THE BUSINESS COMBINATION TO U.S. HOLDERS OF SPAC ORDINARY SHARES? |

| A: | Subject to the limitations