Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 57

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 57
---
 brief summary of each of the Governing Documents Advisory Proposals is set forth below. These summaries are qualified in their entirety by reference to the complete copies of the Proposed Certificate of Formation and Proposed Bylaws attached hereto as Annex B and Annex C, respectively.

| ● | Governing Documents Advisory Proposal A: to approve provisions in the Proposed Governing Documents Formation such that the authorized share capital of PubCo will be (a) 500,000,000 shares of common stock, par value $0.0001 per share and (b) [   ] shares of preferred stock, par value $0.0001 per share. |

<div align='center'>31</div>

| ● | Governing Documents Advisory Proposal B: to approve provisions in the Proposed Governing Documents, which will govern PubCo if the Conditions Precedent Proposals are approved, to authorize the PubCo Board to issue any or all shares of preferred stock in one or more classes or series, with such terms and conditions as may be expressly determined by the PubCo Board. |

| ● | Governing Documents Advisory Proposal C: to approve provisions in the Proposed Governing Documents, which will govern PubCo if the Conditions Precedent Proposals are approved, that provide that SPAC stockholders may not take action by written consent in lieu of a meeting. |

| ● | Governing Documents Advisory Proposal D: to approve provisions in the Proposed Governing Documents, which will adopt Texas as the exclusive forum for certain stockholder litigation and the United States District Courts as the exclusive forum for litigation arising out of the federal securities Laws. |

The Proposed Governing Documents differ in certain material respects from the Existing Governing Documents, and SPAC encourages shareholders to carefully consult the information set out in the section entitled “Governing Documents Proposal” and the full text of the Proposed Certificate of Formation and Proposed Bylaws, attached hereto as Annex B and Annex C, respectively. Stock Issuance Proposal The shareholders will vote on a proposal to authorize, for purposes of complying with Nasdaq Listing Rule 5635, the issuance of the PubCo common stock in connection with the Business Combination. Please see the section entitled “The Stock Issuance Proposal” for additional information. Incentive Plan Proposal We are asking our shareholders to consider and vote upon a proposal to approve the adoption of the PubCo Incentive Plan and the material terms thereunder. SPAC refers to this proposal as the “Incentive Plan Proposal”, as described in more detail in the accompanying proxy