Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 123

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 123
---
 force; |

| ● | No Law or governmental order exists that makes the transactions illegal or prevents their consummation; |

| ● | PubCo will have net tangible assets of at least $5,000,001 after the Redemption and PIPE Investment; |

| ● | The SEC has declared the Registration Statement effective, and no stop order is in effect; |

| ● | PubCo Common Stock to be issued in the Mergers has been approved for listing on Nasdaq or another agreed stock exchange, subject to notice of issuance; and |

| ● | PubCo’s organizational documents will be amended to increase authorized common stock to 500,000,000 shares. |

Conditions to the Companies Obligations

The obligations of the Companies to consummate and effect the Business Combination are subject to the satisfaction, at or prior to the closing of the Business Combination, of each of the following conditions, any of which may be waived, in writing, exclusively by the Companies:

| ● | the representations and warranties of SPAC, each Merger Sub, the other Company, and PubCo in ARTICLE III, V, VI, and VII of the Business Combination Agreement shall be true and correct as of the Closing Date, disregarding any materiality or similar qualifiers, except where a representation expressly relates to an earlier date; |

| ● | the SPAC, the SPAC Merger Sub, the Greenland Merger Sub, the other Company, and PubCo shall have performed all obligations and complied with all covenants under the Business Combination Agreement to be performed or complied with on or prior to the Closing Date, except where waived in writing by the Companies; |

| ● | the covenants and agreements of the SPAC Parties to be performed or complied with on or before the Closing in accordance with the Business Combination Agreement shall have been performed in all material respects; |

| ● | SPAC shall deliver a certificate, dated the Closing Date, signed by an executive officer, certifying satisfaction of the conditions in Sections 9.2(a) and 9.2(b) of the Business Combination Agreement; |

| ● | SPAC shall deliver a certificate from its secretary or executive officer certifying and attaching (A) copies of SPAC’s Organizational Documents as of the Closing Date, and (B) board resolutions authorizing execution, delivery, performance of the Business Combination Agreement and Ancillary Documents, and the consummation of the transactions; |

| ● | SPAC shall deliver good standing certificates (or equivalent) for SPAC,