Pelican Acquisition II Corporation Announces Pricing of $75,000,000 Initial Public Offering

Rhea-AI Summary

Pelican Acquisition II Corporation (NASDAQ: PLCIU) priced its initial public offering of 7,500,000 units at $10.00 per unit on July 23, 2026, for total gross proceeds of $75 million. The units are expected to begin trading on the Nasdaq Capital Market under the ticker “PLCIU” on July 24, 2026.

Each unit includes 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. Once separated, the ordinary shares and rights are expected to trade under “PLCI” and “PLCIR”, respectively. The offering is expected to close on July 27, 2026, subject to customary conditions. EarlyBirdCapital is sole book‑running manager and holds a 45‑day option to purchase up to 1,125,000 additional units at the IPO price to cover over‑allotments.

Positive

• $75 million gross proceeds from 7,500,000 units at $10.00
• Listing on Nasdaq Capital Market under symbols PLCIU, PLCI, PLCIR
• Each unit includes a right to 0.1 additional ordinary share
• Underwriter granted 45-day over-allotment option for 1,125,000 units

Negative

• Over-allotment option may increase total units by 1,125,000, adding dilution

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NEW YORK, July 23, 2026 (GLOBE NEWSWIRE) -- Pelican Acquisition II Corporation (NASDAQ: PLCIU) (the “Company”), a Cayman Islands exempted company, announced that it priced its initial public offering of 7,500,000 units at $10.00 per unit on July 23, 2026. The units will be listed on the Nasdaq Capital Market (“NASDAQ”) and are expected to trade under the ticker symbol “PLCIU” beginning on July 24, 2026. Each unit consists of one ordinary share of the Company and one right, with each right entitling the holder thereof to receive one-tenth (1/10) of one ordinary share upon the consummation of an initial business combination.  

Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on NASDAQ under the symbols “PLCI” and “PLCIR”, respectively. The offering is expected to close on July 27, 2026, subject to customary closing conditions.

EarlyBirdCapital, Inc. is acting as sole book-running manager in the offering. EarlyBirdCapital has been granted a 45-day option to purchase up to an additional 1,125,000 units offered by the Company at the initial public offering price to cover over-allotments, if any. 

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on July 23, 2026. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, by contacting EarlyBirdCapital, Inc., 366 Madison Avenue, 8th floor, New York, NY 10017, Attention: Syndicate Department, or by calling 212-661-0200. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or a 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 II Corporation

Pelican Acquisition II 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, including with respect to the initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. No assurance can be given that the initial public offering will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as described in the offering prospectus. 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

What are the terms of the Pelican Acquisition II (NASDAQ: PLCI) 2026 IPO?

Pelican Acquisition II priced 7,500,000 units at $10.00 each, targeting $75 million in gross proceeds. According to the company, each unit includes one ordinary share and one right to 0.1 additional share after a business combination.

When will Pelican Acquisition II units and shares start trading on Nasdaq under PLCIU and PLCI?

Pelican Acquisition II units are expected to begin trading on Nasdaq as PLCIU on July 24, 2026. According to the company, ordinary shares and rights should later trade separately under PLCI and PLCIR once unit components separate.

What does each Pelican Acquisition II (PLCIU) IPO unit consist of for investors?

Each Pelican Acquisition II unit contains one ordinary share and one right. According to the company, each right entitles its holder to receive one‑tenth of one ordinary share upon consummation of an initial business combination.

How large is the over-allotment option in the Pelican Acquisition II (PLCI) IPO?

EarlyBirdCapital has a 45-day option to buy up to 1,125,000 additional units at the IPO price. According to the company, this option is intended to cover over‑allotments, potentially increasing total proceeds and public float.

When is the closing date for the Pelican Acquisition II (PLCIU) IPO?

The offering is expected to close on July 27, 2026, subject to customary conditions. According to the company, completion depends on standard closing requirements typically associated with U.S. initial public offerings.

How can investors obtain the Pelican Acquisition II (PLCI) IPO prospectus?

Investors may request the prospectus from EarlyBirdCapital’s Syndicate Department at 366 Madison Avenue, 8th floor, New York, or by calling 212-661-0200. According to the company, the registration statement is also accessible via the SEC website.