Company: PELI
Filing Date: 2025-12-19
Form Type: 10-Q
Source: 0001829126-25-010193
Chunk: 2

Company: Pelican Acquisition Corp
Filing Date: 2025-12-19
Form: 10-Q
Item: Part I, Item 1
Chunk 2
---
 possible redemption

    8,625,000

    -

    4,956,044

    -

    Basic and diluted net income per share, ordinary shares subject to possible redemption
     
    $
    0.04

    $
    -

    $
    0.10

    $
    -

    Basic and diluted weighted average shares outstanding, non-redeemable ordinary shares(1)

    3,373,750

    2,700,000

    3,086,012

    2,700,000

    Basic and diluted net income (loss) per share, non-redeemable ordinary shares
     
    $
    0.04

    $
    (0.02
    )
     
    $
    0.10

    $
    (0.02
    )

    (1)

     Excludes an aggregate of up to 375,000 ordinary shares subject to forfeiture if the over-allotment is not exercised in full or in part by the underwriters (see Note 5).  

As a result of the underwriter’s full exercise of its over-allotment option to purchase 1,125,000 units on May 30, 2025, no shares were subject to forfeiture.

The accompanying notes are an integral part of these unaudited condensed financial statements.

2

PELICAN ACQUISITION CORPORATION

UNAUDITED CONDENSED STATEMENT OF CHANGES IN SHAREHOLDERS’ DEFICIT

FOR THE THREE AND NINE MONTHS ENDED OCTOBER 31, 2025

    Ordinary Shares

    Additional Paid-in

    Accumulated

        Total Shareholders’

    Shares(1)

    Amount

    Capital

    Deficit

    Deficit

    Balance – January 31, 2025(1)

    3,075,000

    $
    307

    $
    29,041

    $
    (42,564
    )
     
    $
    (13,216
    )
  
    Net loss

    -

    -

    -

    (19,553
    )

    (19,553
    )
  
    Balance – April 30, 2025(1)

    3,075,000

    $
    307

    $
    29,041

    $
    (62,117
    )
     
    $
    (32,769