Pelican Acquisition II Corp (PLCI) has a significant shareholder disclosure from its sponsor, Pelican II Capital Solutions Ltd. The sponsor reports beneficial ownership of 3,186,500 ordinary shares, representing 26.36% of Pelican Acquisition II Corp’s 12,086,500 ordinary shares outstanding as of July 27, 2026.
The stake consists of 2,875,000 Founder Shares acquired for $25,000 at formation and 311,500 Private Placement Units purchased at $10.00 per unit in connection with the SPAC’s IPO of 8,625,000 units, including full over-allotment. Each Private Placement Unit includes one share and a right to receive one-tenth of a share upon completion of an initial business combination.
The sponsor characterizes its holdings as for investment purposes but has agreed to vote its Founder and private placement shares in favor of any proposed initial business combination, to waive redemption rights and to waive liquidating distributions on these shares if no business combination is completed within 21 months after the IPO.