Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 94

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 94
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 the ownership of a hostile acquirer; |

| ● | the limitation of the liability of, and the indemnification of, PubCo’s directors and officers; |

| ● | the requirement that a special meeting of stockholders may only be called by the Chairman of the PubCo Board, except as otherwise expressly provided by the terms of any series of Preferred Stock, which could delay the ability of stockholders to force consideration of a proposal or to take action, including the removal of directors; |

| ● | controlling the procedures for the conduct and scheduling of board of directors and stockholder meetings; |

| ● | the ability of the PubCo Board to amend the bylaws, which may allow the PubCo Board to take additional actions to prevent an unsolicited takeover and inhibit the ability of an acquirer to amend the bylaws to facilitate an unsolicited takeover attempt; and |

| ● | advance notice procedures with which stockholders must comply to nominate candidates to the PubCo Board or to propose matters to be acted upon at a stockholders’ meeting, which could preclude stockholders from bringing matters before annual or special meetings of stockholders and delay changes in the PubCo Board, and also may discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer’s own slate of directors or otherwise attempting to obtain control of PubCo. |

These provisions, alone or together, could delay or prevent hostile takeovers and changes in control or changes in the PubCo Board or management, that stockholders may consider to be in their best interests.

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The Proposed Certificate of Formation will designate a state or federal court located within the State of Texas as the sole and exclusive forum for substantially all disputes between PubCo and its stockholders, which could limit PubCo’s stockholders’ ability to obtain a favorable judicial forum for disputes with PubCo or its directors, officers, stockholders, employees, or agents.

The Proposed Certificate of Formation, which will be in effect upon the Closing, provides that, unless PubCo consents in writing to the selection of an alternative forum, the [ ] of the State of Texas shall be the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of PubCo, (ii) any action asserting a claim of breach of a fiduciary duty owed by any current or former director, officer, employee, or agent of PubCo to PubCo or PubCo’s stockholders, (iii) any action arising pursuant to any provision