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Initial public offerings

Pelican Acquisition Corporation Announces Initial Public Offering of 7,500,000 Units

Strategic Insights

— 1 min read

Pelican Acquisition Corporation has announced the pricing of its initial public offering of 7,500,000 units at $10.00 per unit, with the units listed on the Nasdaq Global Market beginning on May 23, 2025. The offering is expected to close on May 27, 2025, subject to customary closing conditions. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region. The initial public offering is being made only by means of a prospectus, which can be obtained through the SEC's website at www.sec.gov.

Key Takeaways:

  • Pelican Acquisition Corporation has priced its initial public offering of 7,500,000 units at $10.00 per unit, with the units listed on the Nasdaq Global Market beginning on May 23, 2025.
  • The underwriters have been granted a 45-day option to purchase up to an additional 1,125,000 units offered by the Company to cover over-allotments, if any.
  • The offering is expected to close on May 27, 2025, subject to customary closing conditions.
  • The Company's primary purpose is to effect 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.
  • EarlyBirdCapital, Inc. is acting as sole book-running manager while IB Capital LLC is acting as co-manager in the offering and qualified independent underwriter.
  • The registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 22, 2025.

Statistics:

  • 7,500,000 units offered at $10.00 per unit.
  • Rights entitling the holder to receive one-tenth (1/10) of one ordinary share upon the consummation of an initial business combination.
  • 45-day option to purchase up to an additional 1,125,000 units.
  • Listing of units on Nasdaq Global Market on May 23, 2025.
  • Expected closing date: May 27, 2025.

Sources:

  • GlobeNewswire (MIL-OSI) NEW YORK, May 23, 2025 (GLOBE NEWSWIRE) --
  • Securities and Exchange Commission website: www.sec.gov

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