Welcome to our dedicated page for Pelican Acqsn news (Ticker: PELI), a resource for investors and traders seeking the latest updates and insights on Pelican Acqsn stock.
Pelican Acquisition Corporation (NASDAQ: PELI) is a special purpose acquisition company whose news flow centers on its capital markets activity and its proposed business combination. As a SPAC, Pelican’s key announcements relate to its initial public offering, over-allotment exercise, and subsequent steps toward identifying and executing a merger with one or more operating businesses.
News coverage for Pelican includes the pricing and closing of its IPO and the closing of the underwriters’ full over-allotment option, which established the units, ordinary shares, and rights that trade on the Nasdaq Stock Market. These updates outline how each unit consists of one ordinary share and one right, with each right entitling the holder to receive one-tenth of one ordinary share upon completion of an initial business combination.
A major focus of recent Pelican news is the definitive Agreement and Plan of Merger with Greenland Exploration Limited and March GL Company. Press releases describe the plan to form Greenland Energy Company as the go-forward public company, expected to list on Nasdaq under the ticker GLND after closing. Related news items discuss the Jameson Land Basin in Greenland, the role of Greenland Exploration and March GL, and the strategic rationale for bringing these energy-related assets to the U.S. public markets through Pelican.
Investors following PELI news can expect updates on the progress of the proposed business combination, including filings of the registration statement on Form S-4, references to investor presentations, and media coverage and interviews discussing Greenland’s resource potential and the contemplated Greenland Energy Company. This news page aggregates those developments so readers can review Pelican’s transaction milestones and related disclosures in one place.
Pelican Acquisition Corporation (NASDAQ: PELI) has announced a definitive merger agreement with Greenland Exploration Limited and March GL Company. The combined entity will be named Greenland Energy Company and trade under ticker GLND, with an implied valuation of $215 million for up to 70% ownership.
The merger focuses on developing the Jameson Land Basin in East Greenland, which has an estimated multi-billion-barrel oil potential. The project builds on ARCO's previous $275 million investment and includes over 50 distinct oil and gas targets. March GL has secured agreements with Halliburton for drilling services and has obtained rights to 2,000,000 acres covering the entire petroleum basin.
The transaction structure includes Pelican's domestication from Cayman Islands to Texas, with existing Greenland Exploration shareholders receiving 1.5 million shares and March GL shareholders receiving 20 million shares of the new company. Closing is expected in Q4 2025.
Pelican Acquisition Corporation (NASDAQ: PELI) has signed a non-binding letter of intent to acquire Greenland Exploration Limited (GEL), a Texas-based company focused on North American energy assets. The proposed share-for-share exchange would involve issuing 21.5 million Pelican shares for 100% of GEL's equity.
GEL has rights to invest up to $70 million in the Jameson Land Basin through a partnership with March GL Company, covering over 2 million acres in Greenland. The region is estimated to contain 31.4 billion barrels of oil equivalent. The deal includes potential equity exchange rights for March GL Company based on a $200 million valuation.
The LOI provides a 30-day exclusive negotiation period for finalizing definitive agreements. Pelican's sponsor would reduce its founder equity to 25% of IPO shares post-transaction.
Pelican Acquisition Corporation (NASDAQ: PELI) has successfully completed its initial public offering (IPO), raising $75 million through the sale of 7.5 million units at $10.00 per unit. Each unit comprises one ordinary share and one right, with the right convertible to one-tenth of an ordinary share upon completing an initial business combination.
The units began trading on NASDAQ under "PELIU" on May 23, 2025, with ordinary shares and rights to trade separately under "PELI" and "PELIR" respectively. EarlyBirdCapital serves as the sole book-runner, with IB Capital as co-manager. The underwriters have a 45-day option to purchase up to 1,125,000 additional units to cover over-allotments.
Pelican Acquisition Corporation (NASDAQ: PELIU) has announced the pricing of its initial public offering (IPO) at $10.00 per unit, aiming to raise $75 million through the sale of 7.5 million units. Each unit comprises one ordinary share and one right, with the right convertible to one-tenth of an ordinary share upon completing an initial business combination.
Trading commenced on May 23, 2025 on the Nasdaq Global Market under "PELIU". The ordinary shares and rights will later trade separately under "PELI" and "PELIR". EarlyBirdCapital serves as the sole book-runner, with IB Capital as co-manager. The underwriters have a 45-day option to purchase up to 1.125 million additional units for over-allotments. The offering is expected to close on May 27, 2025.
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