Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 172

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 172
---
, but pursuant to SEC guidance, SPAC is required to submit these provisions to its shareholders separately for approval. The
shareholder votes regarding these proposals are advisory in nature, and are not binding on SPAC, the SPAC Board, PubCo or the PubCo Board.
Furthermore, the Business Combination is not conditioned on the separate approval of the Governing Documents Advisory Proposals (separate
and apart from the approval of the Governing Documents Advisory Proposals). Accordingly, regardless of the outcome of the Governing Documents
Advisory Proposals, SPAC intends that the Proposed Governing Documents will take effect upon the Closing.

The Proposed Governing Documents
differ materially from the existing governing documents. The following table sets forth a summary of the principal changes proposed between
the existing governing documents and the Proposed Governing Documents. This summary is qualified by reference to the complete text of
the amended and restated memorandum and articles of association, a copy of which is attached to this proxy statement/prospectus as Annex
[ ], the complete text of the Proposed Certificate of Formation, a copy of which is attached to this proxy statement/prospectus
as Annex B, and the complete text of the Proposed Bylaws, a copy of which is attached to this proxy statement/prospectus as Annex C. All
shareholders are encouraged to read the Proposed Governing Documents in their entirety. Additionally, as the Existing Governing Documents
are governed by the Cayman Islands Companies Act and the Proposed Governing Documents will be governed by the TBOC, SPAC encourages shareholders
to carefully consult the information set out under the section of this proxy statement/prospectus entitled “Comparison of Corporate Governance and Shareholder Rights.”

|                      |     | Existing Governing Documents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |     | Proposed Governing Documents                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Authorized Shares    
 (Governing Documents 
 Advisory Proposal A) |     | The share capital of SPAC is USD50,000 divided into 500,000,000 SPAC Ordinary Shares of par value USD0.0001 each.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
 See introduction of the Memorandum of Association of SPAC.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |     | The Proposed Certificate of Formation authorizes 500,000,000 shares of common stock, par value $0.0001 per share and 10,000,000 shares of preferred stock, par value $0.0001 per share.                                                                                                                                                                                                                                                                   
 See Article Four of the Proposed Certificate