RE: Greenland Energy Company NASDAQ Listing19 Jan 2026 12:39
"Pelican Holdco, Inc. files an amended Form S-4 to register up to 35,172,375 shares of common stock and 1,500,000 warrants tied to its proposed business combination with Pelican Acquisition Corporation, Greenland Exploration Limited, and March GL Company.
The SPAC will convert from a Cayman company into a Texas corporation, then complete a series of mergers so that Pelican Holdco (to be renamed Greenland Energy Company) becomes the Nasdaq-listed parent, while most operations sit in March GL. March GL shareholders will receive 20,000,000 PubCo shares and Greenland shareholders 1,500,000 PubCo shares, equal to total merger consideration of $215,000,000 at $10.00 per share. Pro forma, March GL and Greenland owners would hold the majority of PubCo, while SPAC public holders’ stake varies sharply with redemptions. SPAC shareholders are offered cash redemption rights, subject to a 15% cap per group, and the deal depends on shareholder approvals and Nasdaq listing. The filing highlights potential conflicts of interest for the sponsor, details possible but uncommitted PIPE financing, and notes a fairness opinion from ERShares supporting the merger terms"
Source: stocktitan.net
Now to await the SEC to declare the registration statement effective if happy with amended S-4.