Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 15

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 15
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 which the Extraordinary General Meeting is scheduled, there are insufficient SPAC Ordinary Shares represented (either virtually or by proxy) to constitute a quorum necessary to conduct business at the Extraordinary General Meeting and (ii) in order to solicit additional proxies from SPAC shareholders in favor of one or more of the proposals at the Extraordinary General Meeting (the “Adjournment Proposal”). For the avoidance of doubt, if put forth at the Extraordinary General Meeting, the Adjournment Proposal will be the first and only proposal voted on and the other Proposals will not be submitted to the shareholders for a vote. |

All of the proposals set forth
above are sometimes collectively referred to herein as the “Proposals.” The approval the Conversion Proposal requires
a special resolution, being the affirmative vote of at least a two-thirds majority of the votes cast by the holders of the issued SPAC
Ordinary Shares present virtually or represented by proxy at the Extraordinary General Meeting and entitled to vote on such matter. The
approval of each of the Business Combination Proposal, the Governing Documents Proposal, the Governing Documents Advisory Proposals, the
Stock Issuance Proposal, the Incentive Plan Proposal and the Adjournment Proposal, if presented at the Extraordinary General Meeting,
requires an ordinary resolution, being the affirmative vote of at least a majority of the votes cast by the holders of the issued SPAC
Ordinary Shares present virtually or represented by proxy at the Extraordinary General Meeting and entitled to vote on such matter.

SPAC is providing the proxy
statement/prospectus and accompanying proxy card to its stockholders in connection with the solicitation of proxies to be voted at the
Extraordinary General Meeting and at any adjournments or postponements of the Extraordinary General Meeting. The Sponsor, which owns approximately
25.73% of the outstanding SPAC Ordinary Shares as of the Record Date, has agreed to vote its SPAC Ordinary Shares in favor of the Business
Combination Proposal and Conversion Proposal, which transactions comprise the Business Combination, and intends to vote for the Governing
Documents Proposal, the Governing Documents Advisory Proposals, the Stock Issuance Proposal and the Incentive Plan Proposal, although there
is no agreement in place with respect to voting on those latter proposals.

As of the date of this prospectus/proxy
statement, SPAC has not entered into any agreement, arrangement, or understanding, including any payments, between the Sponsor and unaffiliated
security holders of SPAC regarding the redemption of outstanding