Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 399

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 399
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ger, the Organizational
Documents of the Surviving Pelican Company, each as in effect immediately prior to the Pelican Merger Effective Time, shall each be amended
and restated in a form to be mutually agreed between the Companies and Purchaser, and such amended and restated Organizational Documents
shall become the respective Organizational Documents of Purchaser.

(b) At the Greenland Merger
Effective Time, by virtue of the Greenland Merger, the Organizational Documents of the Surviving Greenland Company, each as in effect
immediately prior to the Greenland Merger Effective Time, shall automatically be amended and restated in their entirety to read identically
to the Organizational Documents of Greenland Merger Sub, as in effect immediately prior to the Greenland Merger Effective Time, and such
amended and restated Organizational Documents shall become the respective Organizational Documents of Greenland.

<div align='center'>A-7</div>

(c) At the March GL Merger
Effective Time, by virtue of the March GL Merger, the Organizational Documents of the Surviving March GL Company, each as in effect immediately
prior to the March GL Merger Effective Time, shall automatically be amended and restated in their entirety to read identically to the
Organizational Documents of March GL Merger Sub, as in effect immediately prior to the March GL Merger Effective Time, and such amended
and restated Organizational Documents shall become the respective Organizational Documents of March GL.

1.5 Merger Consideration.As consideration for the Mergers, the holders of March GL Common Stock immediately prior to the Pelican Merger shall be entitled to
receive from Holdco, in the aggregate, 20,000,000 shares of Holdco Common Stock (the “March GL Merger Consideration”).
The holders of Greenland Company Common Stock immediately prior to the Pelican Merger shall be entitled to receive from Holdco, in the
aggregate, 1,500,000 shares of Holdco Common Stock (the “Greenland Company Merger Consideration”, and together
with the March GL Merger Consideration, the “Merger Consideration”), with the Merger Consideration being a number
of shares of Holdco Common Stock with an aggregate value equal to US$215,000,000 based upon a per share value of US$10.00.

1.6 Conversion of Outstanding Securities.

(a) Immediately prior to the
Pelican Merger Effective Time, every issued and outstanding Purchaser Unit shall