Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 74

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 74
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| ● | If securities or industry                                                                                                       
 analysts do not publish research or reports about PubCo’s business, if they change their recommendations regarding PubCo Common 
 Stock or if PubCo’s operating results do not meet their expectations, the PubCo Common Stock price and trading volume could     
 decline.                                                                                                                        |

| ● | The trading price of                                                                                    
 the PubCo Common Stock is likely to be volatile, which could result in substantial losses to investors. |

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SELECTED UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION The following summary unaudited pro forma condensed combined financial information has been derived from the unaudited pro forma condensed combined balance sheet as of June 30, 2025 and the unaudited pro forma condensed combined statement of profit or loss for the six months ended June 30, 2025, included in “ Unaudited Pro Forma Condensed Combined Financial Information.” The summary unaudited pro forma condensed combined financial information should be read in conjunction with the unaudited pro forma condensed combined balance sheet and the unaudited pro forma condensed combined statement of profit or loss, and the accompanying notes. In addition, the unaudited condensed combined pro forma financial information was based on and should be read in conjunction with:

The unaudited pro forma condensed combined balance sheet as of June 30, 2025, combines the historical unaudited condensed balance sheet of SPAC as of July 31, 2025, with the historical audited consolidated balance sheets of Greenland and March GL as of June 30, 2025, on a pro forma basis as if the Business Combination had been consummated on July 31, 2025. On September 9, 2025, SPAC entered into an Agreement and Plan of Merger, by and among Pelican Holdco, Inc., a Texas corporation, Pelican Merger Sub, Inc., a Texas corporation and wholly-owned subsidiary of PubCo, Greenland Exploration Limited, a Texas Corporation, Greenland Merger Sub, Inc., a Texas corporation and a wholly-owned subsidiary of PubCo, and March GL Company, a Texas corporation.The transaction includes a series of mergers whereby SPAC, Greenland, and March GL will each merge with subsidiaries of PubCo. At the closing of the transaction pursuant to the Business Combination Agreement, PubCo will operate under the name Greenland Energy Company. The Boards of Directors of SPAC, March GL, Greenland,