Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 36

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 36
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 as a result of redemptions by public shareholders. Also, with fewer SPAC Ordinary Shares and public shareholders, the trading market for shares of PubCo Common Stock may be less liquid than the market for SPAC Public Shares prior to the Business Combination and PubCo may not be able to meet the listing standards of a national securities exchange. |

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| Q: | HOW DO I EXERCISE MY REDEMPTION RIGHTS? |

If you are a holder of SPAC Public
Shares and wish to exercise your redemption rights, you must demand that SPAC redeem your SPAC Public Shares for cash no later than 5:00
p.m., Eastern Time on, , 2025 by delivering your share certificates (if any), and other redemption
forms to the Transfer Agent physically or electronically using Depository Trust Company’s DWAC (Deposit and Withdrawal at Custodian)
system prior to the vote at the Extraordinary General Meeting. Holders of Units must elect to separate the underlying SPAC Public Shares
prior to exercising redemption rights with respect to the SPAC Public Shares. If holders hold their Units in an account at a brokerage
firm or bank, holders must notify their broker or bank that they elect to separate the Units into underlying SPAC Public Shares, or if
a holder holds Units registered in its own name, the holder must contact the Transfer Agent, directly and instruct them to do so. Any
holder of SPAC Public Shares will be entitled to demand that such holder’s shares be redeemed for a full pro rata portion of the
amount then in the Trust Account (which, for illustrative purposes, was approximately $[ ], or $[ ]
per share, as of [ ], 2025). Such amount, including interest earned on the funds held in the Trust Account and not previously
released to SPAC for permitted withdrawals or to pay its taxes, if any, will be paid promptly upon consummation of the Business Combination.
However, the proceeds deposited in the Trust Account could become subject to the claims of SPAC’s creditors, if any, which could
have priority over the claims of SPAC’s public shareholders, regardless of whether such public shareholders vote for or against
the Business Combination Proposal. Therefore, the per-share distribution from the Trust Account in such a situation may be less than
originally anticipated due to such claims. Your vote on any proposal will have no impact on the amount you will receive upon exercise
of your redemption rights.

Any written demand of