Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 88

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 88
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 Business Combination would disclose the possibility that the Sponsor, directors, officers, advisors or any of their affiliates may purchase shares or rights from SPAC public shareholders outside the redemption process, along with the purpose of such purchases; |

| ● | if the Sponsor or the directors, officers, advisors or any of their affiliates were to purchase shares or rights from SPAC public shareholders, they would do so at a price no higher than the price offered through our redemption process; |

| ● | the registration statement/proxy statement filed for the Business Combination would include a representation that any of the securities purchased by the Sponsor or the directors, officers, advisors or any of their affiliates would not be voted in favor of approving the Business Combination; and |

| ● | the Sponsor or the directors, officers, advisors or any of their affiliates would not possess any redemption rights with respect to the securities or, if they do acquire and possess redemption rights, they would waive such rights. |

In addition, if such purchases are made, the public “float” of SPAC Ordinary Shares or the public warrants and the number of beneficial holders of our securities may be reduced, possibly making it difficult to obtain or maintain the quotation, listing or trading of the SPAC securities on a national securities exchange.

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Changes in Laws or regulations, or a failure to comply with any Laws and regulations, may adversely affect SPAC’s business, including its ability to complete the Business Combination, and results of operations.

SPAC is subject to Laws and regulations enacted by national, regional and local governments. In particular, SPAC is required to comply with certain SEC and other legal requirements. Compliance with, and monitoring of, applicable Laws and regulations may be difficult, time consuming and costly. Those Laws and regulations and their interpretation and application may also change from time to time and those changes could have a material adverse effect on SPAC’s business, investments and results of operations. In addition, a failure to comply with applicable Laws or regulations, as interpreted and applied, could have a material adverse effect on SPAC’s business, including its ability to complete the Business Combination, and results of operations.

On March 30, 2022, the SEC issued proposed rules relating to, among other items, enhancing disclosures in business combination transactions involving SPACs and private operating companies; amending the financial statement requirements applicable to transactions involving shell companies; effectively limiting the use of projections in SEC filings in connection with proposed business combination transactions; increasing the potential liability of certain participants in proposed business