Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 176

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 176
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 Proposals (separate and apart from approval of the Governing
Documents Advisory Proposals). Accordingly, regardless of the outcome of the non-binding advisory vote on the Governing Documents Advisory
Proposals, SPAC intends that the Proposed Governing Documents will take effect upon the Closing (assuming approval of the Governing Documents
Advisory Proposals).

As of the date of this proxy
statement/prospectus, the Sponsor and the Insiders have agreed to vote the SPAC Ordinary Shares owned by them in favor of the Governing
Documents Advisory Proposals. As of the Record Date, the Sponsor and the Insiders own 25.73% of the issued and outstanding SPAC Ordinary
Shares. SPAC’s officers and directors do not hold any SPAC Public Shares, but may purchase SPAC Public Shares at any time, subject
to compliance with Law and SPAC’s trading policies. As a result, in addition to approval by the Sponsor, approval of the Governing
Documents Advisory Proposals will require the affirmative vote of at least [●] SPAC Ordinary Shares held by public shareholders
(or approximately [●]% of the SPAC Public Shares) if all SPAC Ordinary Shares are represented at the Extraordinary General Meeting
and cast votes, and no affirmative vote of any holder of SPAC Public Shares will be required if only such shares as are required to establish
a quorum are represented at the Extraordinary General Meeting and cast votes.

Recommendation of the SPAC Board

The SPAC Board believe that
the Governing Documents Advisory Proposals to be presented at the Extraordinary General Meeting are in the best interests of SPAC.

THE SPAC BOARD UNANIMOUSLY RECOMMENDS THAT SPAC SHAREHOLDERS VOTE “FOR” THE APPROVAL OF THE GOVERNING DOCUMENTS ADVISORY PROPOSALS.

The existence of financial and personal interests of one or more of SPAC’s directors may result in a conflict of interest on the part of such director(s) between what such director may believe is in the best interests of SPAC and its shareholders and what such director may believe is best for themselves in determining to recommend that shareholders vote for the proposals. The Sponsor and SPAC’s officers also have interests in the Business Combination that may be different from, or in addition to, your interests as a shareholder. See the section of this proxy statement/prospectus entitled “ The Business Combination Proposal—Interests of Certain Persons in the Business Combination” for a further discussion of these considerations.