Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 17

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 17
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 or as a “group” (as defined under Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares sold without our prior consent.

Holders must complete the
procedures for electing to redeem their SPAC Public Shares in the manner described herein prior to 5:00 p.m., Eastern Time, on,
2025 (two business days before the Extraordinary General Meeting) in order for their shares to be redeemed.

Holders of SPAC Units must
elect to separate the SPAC Units into the underlying SPAC Ordinary Shares and SPAC Rights prior to exercising redemption rights with respect
to the SPAC Public Shares. If holders hold their SPAC Units in an account at a brokerage firm or bank, holders must notify their broker
or bank that they elect to separate the SPAC Units into the underlying SPAC Ordinary Shares and SPAC Rights, or if a holder holds SPAC
Units registered in its own name, the holder must contact Continental Stock Transfer & Trust Company, SPAC’s transfer agent
(the “Transfer Agent”), directly and instruct them to do so. The redemption rights include the requirement that a holder
must identify itself in writing as a beneficial holder and provide its legal name, phone number and address to the Transfer Agent in order
to validly redeem its SPAC Public Shares. Public shareholders may elect to redeem SPAC Public Shares regardless of if or how they vote
in respect of the Business Combination Proposal. If the Business Combination is not consummated, the SPAC Public Shares will be returned
to the respective holder, broker or bank. If the Business Combination is consummated, and if a public shareholder properly exercises its
right to redeem all or a portion of the SPAC Public Shares that it holds and timely delivers its shares to the Transfer Agent, SPAC will
redeem such SPAC Public Shares for a per-share price, payable in cash, equal to the pro rata portion of Trust Account, calculated as of
two business days prior to the consummation of the Business Combination including interest earned on the funds held in the Trust Account
and not previously released to SPAC to pay its taxes or for permitted withdrawals, divided by the number of then outstanding SPAC Public
Shares.

Pelican Sponsor LLC, a Delaware
limited liability company (our “Sponsor”), and SPAC’s officers and directors have agreed to waive their redemption
rights with respect to any SPAC Ordinary Shares they