Pelican Acquisition Corporation allows unit holders to separately trade ordinary shares and rights starting June 12, 2025.
Quiver AI Summary
Pelican Acquisition Corporation announced that from June 12, 2025, holders of its 8,625,000 units from its initial public offering can choose to separately trade the ordinary shares and rights included in those units. The units will continue to trade on the Nasdaq under the symbol “PELIU,” while the separated shares and rights will trade under the symbols “PELI” and “PELIR,” respectively. To separate the units, holders must have their brokers contact the Company’s transfer agent, Continental Stock Transfer & Trust Co. The release clarifies that it does not constitute an offer to buy or sell securities in jurisdictions where such actions would be illegal. Pelican Acquisition Corporation is a blank check company aiming to engage in merger or acquisition activities across various industries and regions. The press release also includes a disclaimer about forward-looking statements subject to risks and uncertainties that may affect actual outcomes.
Potential Positives
- The ability for holders of the initial public offering units to separately trade ordinary shares and rights enhances liquidity for investors, potentially attracting more interest in the company's stock.
- The transition to separate trading symbols for ordinary shares and rights provides clarity and could improve market visibility for the company's securities on the Nasdaq.
- The press release indicates an active step in the company's growth strategy, as it prepares for potential mergers or business combinations.
Potential Negatives
- The release does not provide any specific information about potential target businesses or sectors for mergers or acquisitions, which may raise concerns about the company's strategic direction.
- There is a risk associated with the forward-looking statements made in the release, as they acknowledge uncertainties that could significantly affect the company's future performance.
- The requirement for unit holders to contact brokers for separation may lead to confusion or barriers for investors not familiar with the process, potentially impacting trading activity.
FAQ
When can unit holders separate their shares and rights?
Unit holders can separate their ordinary shares and rights starting on or about June 12, 2025.
What are the trading symbols for Pelican's shares and rights?
The ordinary shares will trade under the symbol “PELI” and the rights under “PELIR” on the Nasdaq.
How many units were sold in Pelican's IPO?
Pelican Acquisition Corporation sold 8,625,000 units in its initial public offering.
What is Pelican Acquisition Corporation's business purpose?
Pelican Acquisition Corporation is a blank check company seeking to merge or acquire other businesses.
Who should unit holders contact to separate their units?
Unit holders must have their brokers contact Continental Stock Transfer & Trust Co. to separate their units.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
NEW YORK, June 10, 2025 (GLOBE NEWSWIRE) -- Pelican Acquisition Corporation (NASDAQ: PELI, the “Company”), a Cayman Islands exempted company, announced that holders of its 8,625,000 units sold in the Company’s initial public offering may elect to separately trade the ordinary shares and rights included in the units, commencing on or about June 12, 2025.
Any units not separated will continue to trade on the Nasdaq Global Market (the “Nasdaq”) under the symbol “PELIU,” and the separated ordinary shares and rights are expected to trade on the Nasdaq under the symbols “PELI” and “PELIR,” respectively. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Co., the Company’s transfer agent, in order to separate the units into ordinary shares and rights.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Pelican Acquisition Corporation
Pelican Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Contact
Robert Labbe
Chief Executive Officer
Email: [email protected]
Tel: (212) 612-1400
