Member Info for 1020satnight

Right. By the looks of it they only have about $11m or 12m at hand. Most of it from PELI's trust cash.

Page 164 for the pro-forma combined fins

F-41, F-51 and F-81 for the latest individual financials.

OK. The latest S-4 amendment is now visible here and includes the proforma statements (under three redemption scenarios) and the latest fins of March GL.

https://www.sec.gov/ix?doc=/Archives/edgar/data/0002037431/000182912626001322/pelicanholdco_s4a.htm

It looks to me that there's not a lot of Cash left for the new GLND and that they only just made the required $5,000,001 Net Worth required to go on with the transaction. Which I guess it's the reason for the fall in PELI's share price yesterday, as it looks like they will need a capital injection (although potentially, the operation could financed with Debt as well, dunno)

In any case, I'd think that in theory, in the short term, 80M's share price should not be affected by GLND/PELI's potential share price dilution... it's up to them to decide how to fund the operations they have promised to carry out. Albeit, 80M will probably see some volatility, as people see the PELI/GLND share price move around and panic or get excited ..

On the other hand, I might have just spent to much time looking at this and imagining things..

can any one please share some thoughts (after reading the fins linked above)

Are you alright, man?

And do you have a link or any other info on March GL Company's Balance Sheet, or at least on how much Cash they will be bringing in to GLND?

And by the way, I believe you were right about the lower float.

Reading the accounts in more depth, there seems to be 2,875,000 Founder Shares within the remaining (post redemption) 4,436,407 shares in Pelican Acquisition Corporation (PELI) shareholders, which are restricted as well. So, assuming the new company was not relying on the PELI's trust Cash, it looks set to soar..

so, only 1,561,407 shares to buy on the market for those interested in Oil beneath Greenland...

20,000,000 Shares issued to existing March GL Company's Shareholders

1,500,000 Shares issued to existing Greenland Exploration Limited (GEL)'s Shareholders

2,875,000 Shares issued to Pelican Acquisition Corporation (PELI)'s Founder Shareholders (1x1)

1,561,407 Shares issued to the rest of Pelican Acquisition Corporation (PELI)'s Shareholders (1x1)

Thanks, F1Driver.

Do you have a link or any other info on March GL Company's Balance Sheet, or at least how much Cash will they bring in to GLND?

Since PELI has only $10m left post redemption, I guess this is the only piece off the puzzle missing...

The restrictions must be fully disclosed in the S-4 file here, but for some reason I can't open it.

the original is about 45 lines down this list, with a number of amendments after the original filing. Weill try to open it again later

https://www.sec.gov/edgar/browse/?CIK=2037431&owner=exclude

Https://carta.com/uk/en/learn/startups/equity-management/rule-144/

I haven't been able to fins any info in respect of PELI's specific merger, only this from google:

"As these shares are issued to private shareholders of March GL and Greenland Exploration (a private Texas corporation) to acquire 100% of their equity, they would typically be considered "restricted securities" under SEC rules immediately upon issuance, even if they are eventually registered for trading"

and

"While the specific date of release is not explicitly detailed in the summary press releases, the shares are subject to restrictions that are typically 6 to 12 months or longer for SPAC transactions to ensure stability following the listing"

Https://www.sec.gov/Archives/edgar/data/2037431/000182912626002532/pelicanacq_8k.htm

Hi, F1 Driver.

holders of 7,562,343 ordinary shares elected to redeem their shares for cash

so,

4,436,407 shares are left for existing Pelican Acquisition Corporation (PELI) shareholders (1x1)

20,000,000 shares issued to existing March GL Company shareholders

1,500,000 shares issued to existing Greenland Exploration Limited (GEL) owners

Are there any restrictions on the 21.5 million shares issued to March GL Company's and Greenland Exploration Limited's shareholders?

Thanks in advance for your comments (yes I'm being a bit lazy)

Well, yes. that's a mathematical certainty now.. :) but come next week they all might end up joining the self-flagellation band that seems to hang around here. Only time will tell. good luck to everyone

I think it will probably go up again. (And imagine if (when) the unbridled lunatic they have by president starts ranting about Oil and Greenland again in a few weeks...

Wolf, in connection with the meeting, holders of 7,562,343 ordinary shares elected to redeem their shares for cash from the trust account, receiving an aggregate $77,740,886.04, or approximately $10.28 per share. This substantially reduces the SPAC’s public float and cash held in trust ahead of the closing

Thinks...

No. it was for panman. I mean, if he things the company is overvalued that what you normally do.

Are you selling 80M, then?

I was going to ask if he was selling...

Penman, would you expand, if you don't mind?

why do you see 80M as overvalued? what's your assessment on all the projects, assets, etc that 80M has, including GLND's 30%?

thanks in advance

It’s been down since yesterday evening.

(The beauty of private equity fund ownership…)