Pelican Acquisition Corporation Announces Closing of Full Underwriters’ Over-Allotment Option in connection with its Initial Public Offering

Group 1 - Pelican Acquisition Corporation completed the sale of an additional 1,125,000 units at a public offering price of $10.00 per unit, resulting in gross proceeds of $11,250,000, bringing the total gross proceeds from the initial public offering to $86,250,000 with 8,625,000 units issued [1] - Each unit sold consists of one ordinary share and one right, with each right entitling the holder to receive one-tenth of one ordinary share upon the consummation of an initial business combination [2] - EarlyBirdCapital, Inc. acted as the sole book-running manager, while IB Capital LLC served as co-manager for the offering [3] Group 2 - A registration statement for these securities was declared effective by the Securities and Exchange Commission on May 22, 2025, and the offering was made only by means of a prospectus [4] - Pelican Acquisition Corporation is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, without limitations on industry or geographic region [6]