Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 230

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 230
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 |   |     |                 |            |   |     |                     |            |   |
|:------------------------------------------------------------------------|:----|:-------------------------------|-----------:|:--|:----|:----------------|-----------:|:--|:----|:--------------------|-----------:|:--|
|                                                                         |     | Assuming                       
 No Redemptions                 |            |   |     | Assuming        
 50% Redemptions |            |   |     | Assuming            
 maximum Redemptions |            |   |
| Proforma net loss                                                       |     |                                |   (448,852 | ) |     |                 |   (448,852 | ) |     |                     |   (448,852 | ) |
| Weighted average shares outstanding of common stock – basic and diluted |     |                                | 33,672,375 |   |     |                 | 29,359,875 |   |     |                     | 25,047,375 |   |
| Net loss per share – basic and diluted                                  |     |                                |      (0.01 | ) |     |                 |      (0.02 | ) |     |                     |      (0.02 | ) |

<div align='center'>158</div>

<div align='center'>BUSINESS OF SPAC</div>

We are a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this proxy statement/prospectus as our initial business combination. Our team has a history of executing transactions in multiple geographies and under varying economic and financial market conditions.

SPAC’s Sponsor is Pelican Sponsor LLC, a Delaware limited liability company. Our management team consists of experienced professionals and senior operating executives who bring a unique background and skillset. We will seek to leverage our management team’s network of relationships with corporate executives, private equity, venture and growth capital funds, investment banking firms, consultants, family offices, and large corporations.

As of July 31, 2025, we have neither engaged in any operations nor generated any revenue to date. Based on our business activities, SPAC is a “shell company” as defined under the Exchange Act because we have no operations and nominal assets consisting almost entirely of cash.

Our executive offices are located at 1185 Avenue of the Americas, Suite 304, New York, NY 10036,