Pelican Acquisition closes $75M IPO on Nasdaq; trust funded, 15-month deadline for business combination

Pelican Acquisition Corp

Closed IPO of 7,500,000 units at $10.00/unit for $75,000,000 gross proceeds.
Simultaneous private placement of 276,250 units at $10.00/unit raised $2,762,500 from sponsor and underwriter.
Net proceeds of $75M deposited in trust account; must complete initial business combination within 15 months.
Ping Zhang, Daniel M. McCabe and Qi Gong appointed to Board and to Audit and Compensation Committees.
Units trade as PELIU; ordinary shares and rights expected to list separately as PELI and PELIR.

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Executive movements

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Appointed

Qi Gong

Director

Pelican Acquisition Corp

Effective: 2025-05-22
Filed: May 28, 2025 23:59 UTC

Ping Zhang, Daniel M. McCabe and Qi Gong (collectively, the “Directors”) were appointed to the board of directors of the Company (the “Board”).

Appointed

Daniel M. McCabe

Director

Pelican Acquisition Corp

Effective: 2025-05-22
Filed: May 28, 2025 23:59 UTC

Ping Zhang, Daniel M. McCabe and Qi Gong (collectively, the “Directors”) were appointed to the board of directors of the Company (the “Board”).

Appointed

Ping Zhang

Director

Pelican Acquisition Corp

Effective: 2025-05-22
Filed: May 28, 2025 23:59 UTC

Ping Zhang, Daniel M. McCabe and Qi Gong (collectively, the “Directors”) were appointed to the board of directors of the Company (the “Board”).

Source: SEC EDGAR

accession 0001829126-25-003997

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