Welcome to our dedicated page for Pelican Acquisition SEC filings (Ticker: PELIU), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Our SEC filing database is enhanced with expert analysis from Rhea-AI, providing insights into the potential impact of each filing on Pelican Acquisition's stock performance. Each filing includes a concise AI-generated summary, sentiment and impact scores, and end-of-day stock performance data showing the actual market reaction. Navigate easily through different filing types including 10-K annual reports, 10-Q quarterly reports, 8-K current reports, proxy statements (DEF 14A), and Form 4 insider trading disclosures.
Designed for fundamental investors and regulatory compliance professionals, our page simplifies access to critical SEC filings. By combining real-time EDGAR feed updates, Rhea-AI's analytical insights, and historical stock performance data, we provide comprehensive visibility into Pelican Acquisition's regulatory disclosures and financial reporting.
Pelican Acquisition Corporation filed its unaudited Form 10-Q for the quarter ended April 30 2025. The blank-check company remains in the pre-merger stage and therefore reports no revenue.
Liquidity. Cash rose to $499,606 from $59,073 at January 31 2025, boosting total current assets to $501,456. Deferred offering costs stand at $169,116, lifting total assets to $670,572 (vs. $208,386 three months earlier).
Liabilities. Current liabilities jumped to $703,341 (vs. $221,602) mainly because the related-party promissory note increased to $700,000. Accrued expenses fell to zero and accrued offering costs were $3,341.
Capital position. Additional paid-in capital remained unchanged at $29,041. Accumulated deficit widened to $(62,117), pushing total shareholders’ deficit to $(32,769) from $(13,216). The negative equity position is typical for a SPAC before trust funding.
Results of operations. Formation and operating costs of $19,937 were partially offset by $384 of interest income, producing a net loss of $(19,553) for the quarter, or $(0.01) per basic and diluted share on 2.7 million weighted-average shares.
Cash flow. Operating activities used $39,664 of cash. Financing cash-flow details were not fully provided in the excerpt, but deferred offering costs rose by roughly $19,803.
Share information. As of June 27 2025, 11,998,750 ordinary shares (including shares underlying units) were outstanding. Following the underwriter’s full exercise of the 1,125,000-unit over-allotment option on May 30 2025, the potential forfeiture of up to 375,000 founder shares was eliminated.
Listings. Units trade under PELIU, ordinary shares under PELI, and rights under PELIR on Nasdaq.
Key takeaways from Pelican Acquisition Corp’s Schedule 13D filing dated 30 May 2025:
Pelican Sponsor LLC disclosed beneficial ownership of 3,087,500 ordinary shares, equal to 25.73 % of the 11,998,750 shares outstanding. The stake consists of (i) 2,875,000 founder shares originally purchased on 22 Aug 2024 for $25,000 and (ii) 212,500 shares underlying private-placement units acquired at $10 per unit. The Sponsor controls the largest single block of the SPAC’s equity and, under lock-up and voting agreements, is obliged to vote its shares in favour of any proposed business combination and refrain from redemption under specified circumstances.
On 30 May 2025 the Sponsor amended its operating agreement, transferring 91.70 % of its interest to Aspira Capital Consulting LTD, making Aspira the new majority owner of the Sponsor and, indirectly, the SPAC’s largest shareholder. The filing reiterates that the shares were acquired for investment purposes; future purchases or sales remain possible subject to market conditions and lock-up provisions. No criminal or civil proceedings involving the reporting person were reported in the past five years.
Overall, the document confirms a concentrated insider holding, outlines historical capital injections (founder shares and private-placement units) and signals a significant shift in ultimate control of the Sponsor from its original member to Aspira Capital, which could influence future decision-making on the SPAC’s initial business combination.
FAQ
What is the current stock price of Pelican Acquisition (PELIU)?
