Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 296

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 296
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 dividends and to any restrictions on the payment of dividends imposed by the terms of any outstanding preferred stock.

Upon our dissolution or liquidation, after payment in full of all amounts required to be paid to creditors and to the holders of preferred stock having liquidation preferences, if any, the holders of shares of the PubCo Common Stock will be entitled to receive pro rata our remaining assets available for distribution.

Holders of shares of the PubCo Common Stock do not have preemptive, subscription, redemption or conversion rights. There will be no redemption or sinking fund provisions applicable to the common stock.

Warrants

Holders of warrants will not have the rights or privileges of holders of PubCo Common Stock, including voting or dividend rights, until they exercise their warrants and receive shares of PubCo Common Stock.

Registration Rights

We intend to enter into a Registration Rights Agreement with the holders of Merger Consideration, PubCo Warrants and PubCo Common Stock, pursuant to which such parties will have specified rights to require us to register all or a portion of their shares under the Securities Act. See “ Certain Relationships and Related Person Transactions—Registration Rights Agreement.”

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Forum Selection

The Proposed Certificate of Formation will provide (i) (a) any derivative action or proceeding brought on behalf of PubCo under Texas Law, (b) any action asserting a claim of breach of a fiduciary duty owed by any current or former director, officer, other employee or stockholder of PubCo to PubCo or PubCo’s Shareholders, (c) any action asserting a claim arising pursuant to any provision of the TBOC, the Proposed Certificate of Formation or the Proposed Bylaws (as either may be amended or restated) or as to which the TBOC confers jurisdiction on the courts of the State of Texas, (d) any action asserting a claim governed by the internal affairs doctrine of the Law of the State of Texas, or (e) any other action asserting an internal corporate claim under Texas Law, to the fullest extent permitted by Law, be exclusively brought in the courts of the State of Texas or, if such court does not have subject matter jurisdiction thereof, the federal district court of the State of Texas; and (ii) the federal district courts of the United States shall be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act; provided, however, that the foregoing choice of forum provision shall not apply to claims seeking to enforce any liability or duty created