Company: PELI
Filing Date: 2025-09-15
Form Type: 10-Q
Source: 0001829126-25-007404
Chunk: 1

Company: Pelican Acquisition Corp
Filing Date: 2025-09-15
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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    Total Shareholders’ Equity (Deficit)

    342,916

    (13,216
    )
  
    Total Liabilities and Shareholders’ Equity (Deficit)
     
    $
    87,312,564

    $
    208,386

    (1)

    Includes 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.

1

PELICAN ACQUISITION CORPORATION

UNAUDITED CONDENSED STATEMENTS OF OPERATIONS

    For theThree Months EndedJuly 31, 2025

    For theSix Months EndedJuly 31, 2025

    General and administrative expenses
     
    $
    331,247

    $
    351,184

    Loss from Operations

    (331,247
    )

    (351,184
    )

    Other income:

    Interest income

    2,985

    3,369

    Interest earned on investments held in Trust Account

    635,672

    635,672

    Total other income

    638,657

    639,041

    Net income
     
    $
    307,410

    $
    287,857

    Basic
    and diluted weighted average shares outstanding, ordinary shares subject to possible redemption

    6,081,522

    3,091,160

    Basic and diluted net income per share, ordinary shares subject to possible redemption
     
    $
    0.03

    $
    0.05

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

    3,171,698

    2,939,758

    Basic
    and diluted net income per share, non-redeemable ordinary shares
     
    $
    0.03

    $
    0.05

    (1)

    Excludes an aggregate of up to 375,000 ordinary shares subject to forfeiture if the over-allotment is not exercised in full