Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 38

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 38
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AC’S SECURITIES CONTINUE TO TRADE ON A STOCK EXCHANGE? |

| A: | No. SPAC anticipates that, following consummation of the Business Combination, the Units will automatically separate into their component parts. SPAC will deregister its securities under the Exchange Act. SPAC shall transfer by way of continuation from the Cayman Islands to the State of Texas. SPAC Merger Sub will merge with and into SPAC with SPAC being the surviving company and as a result of the SPAC Merger each SPAC Ordinary Share issued and outstanding immediately prior to the SPAC Merger Effective Time will be converted into the right to receive one share of PubCo Common Stock. |

Following the completion of the SPAC Merger, Greenland Merger Sub will merge with and into Greenland with Greenland being the surviving corporation, and as a result of the Greenland Merger, each share of Greenland Common Stock issued and outstanding immediately prior to the Greenland Merger Effective Time will be converted into the right to receive one share of PubCo Common Stock.

Immediately following the consummation of the Greenland Merger, March GL Merger Sub will merge with and into March GL with March GL being the surviving corporation, and, as a result of the March GL Merger, each share of March GL Common Stock issued and outstanding immediately prior to the March GL Merger Effective Time will be converted into the right to receive pro-rata number of an aggregate 20,000,000 share(s) of PubCo Common Stock.

Immediately following the consummation of the March GL Merger, PubCo will contribute 100% of the March GL Common Stock received pursuant to the March GL Merger to Greenland, with March GL becoming a wholly owned subsidiary of Greenland.

PubCo will apply to list PubCo Common Stock and PubCo Warrants on Nasdaq. It is a closing condition to consummate the Business Combination that the PubCo Common Stock and PubCo Warrants are approved for listing on Nasdaq. The parties believe that PubCo will satisfy the initial listing requirements of Nasdaq at the Closing, but there can be no assurance such listing condition will be met. If such listing condition is not met, the Business Combination may not be consummated unless such condition is waived by the parties.

| Q: | DO SPAC SHAREHOLDERS OR COMPANY SHAREHOLDERS HAVE APPRAISAL RIGHTS IN CONNECTION WITH THE CONVERSION OR THE BUSINESS COMBINATION? |

| A: | Public shareholders do not have appraisal rights or dissent