Pelican Acquisition Corporation Announces the Separate Trading of its Ordinary Shares and Rights

Rhea-AI Summary

Pelican Acquisition Corporation (NASDAQ: PELI) announced that holders of its 8,625,000 units from its IPO can now separately trade the ordinary shares and rights included in the units starting around June 12, 2025. The units currently trade on Nasdaq under 'PELIU', while the separated components will trade under 'PELI' (ordinary shares) and 'PELIR' (rights). Unit holders must contact Continental Stock Transfer & Trust Co. to separate their units. The company, incorporated in the Cayman Islands, specified that this announcement does not constitute an offer to sell or solicitation to buy securities.

Positive

• Provides increased trading flexibility for investors by allowing separate trading of shares and rights

Negative

• None.

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: admin@pelicanacq.com
Tel: (212) 612-1400

FAQ

When will Pelican Acquisition Corporation (PELI) begin separate trading of shares and rights?

Separate trading of ordinary shares and rights will begin on or about June 12, 2025

How many units were sold in Pelican Acquisition Corporation's (PELI) IPO?

Pelican Acquisition Corporation sold 8,625,000 units in its initial public offering

What are the trading symbols for Pelican Acquisition Corporation's securities?

The units trade under PELIU, ordinary shares under PELI, and rights under PELIR on the Nasdaq

How can PELI unit holders separate their units into shares and rights?

Unit holders need to contact Continental Stock Transfer & Trust Co., the company's transfer agent, through their brokers to separate units