Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 486

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 486
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ee, (a) at the Closing, the Purchaser shall (i) cause the documents, opinions and
notices required to be delivered to the Trustee pursuant to the Trust Agreement to be so delivered, and (ii) use reasonable best efforts
to cause the Trustee to (x) pay as and when due all amounts, if any, payable to the Public Shareholders of the Purchaser pursuant to the
Redemption, (y) pay the amounts due to the underwriters of the Purchaser’s IPO for their business combination marketing agreement
as set forth in the Trust Agreement and (z) immediately thereafter, pay all remaining amounts then available in the Trust Account to the
Purchaser in accordance with the Trust Agreement, and (b) thereafter, the Trust Account shall terminate, except as otherwise provided
therein. Any such remaining amounts paid to Purchaser in accordance with the foregoing sentence shall, along with any proceeds from any
PIPE Investment, first be used to pay (a) the Purchaser’s accrued Expenses, (b) the Purchaser’s deferred Expenses of the IPO,
and (d) any other Expenses of the Purchaser, either Company, and the Holdco as of the Closing. Such Expenses will be paid at the Closing.
Any remaining cash will be used in each Company’s business within the meaning of Treasury Regulations Section 1.368-1(d).

7.20 Domestication.
At least one (1) day prior to the Closing Date, Holdco shall cause the Purchaser to migrate to and domesticate as a Texas corporation
in accordance with the TBOC and the Companies Act (the “Domestication”), including by (a) filing with the Texas
Secretary of State a Certificate of Domestication with respect to the Domestication, in form and substance reasonably acceptable to Purchaser
and each Company, together with the certificate of incorporation of Purchaser (in form and substance reasonably acceptable to Purchaser
and each Company), in each case, in accordance with the provisions thereof and applicable Law, (b) completing and making and procuring
all those filings required to be made with the Cayman Registrar in connection with the Domestication, and (c) obtaining a certificate
of de-registration from the Cayman Registrar. In accordance with applicable Law, the Domestication shall provide that at the effective
time of the Domestication, by virtue of the Domestication, and without any action on the part of any Person, each then issued and outstanding
share of Purchaser Ordinary