Pelican Acquisition Corp 8-K

What Happened

• Pelican Acquisition Corp (PELI) announced that at its Extraordinary General Meeting on March 19, 2026 shareholders approved the proposed business combination under the Merger Agreement dated September 9, 2025. The Company had 11,998,750 ordinary shares outstanding as of the February 19, 2026 record date; 7,034,878 shares (≈58.63%) were present or represented by proxy, constituting a quorum. Based on the approvals and subject to remaining closing conditions, the Transactions are expected to be consummated on or around March 24, 2026, and Greenland Energy Company’s common stock is expected to begin trading on the Nasdaq Global Market under the symbol “GLND” on March 25, 2026.

Key Details

• Business Combination vote: For 6,509,645; Against 400,135; Abstain 125,098.
• Other approved proposals included conversion, governing documents, stock issuance, and incentive plan (vote totals for each were reported in the filing).
• Redemption activity: holders of 7,562,343 ordinary shares exercised redemption rights for an aggregate of $77,740,886.04 (≈ $10.28 per share).
• Record date: February 19, 2026; Extraordinary General Meeting held March 19, 2026.

Why It Matters

• The shareholder approvals clear a major regulatory and shareholder step toward completing the merger that will take Greenland Energy Company public via the Pelican SPAC.
• The reported redemptions ($77.74M) represent cash leaving Pelican’s trust and will affect the post-closing cash available to the combined company.
• Investors should note the expected Nasdaq listing date (GLND, March 25, 2026) and the announced closing timetable; monitor subsequent filings for final closing confirmation and updated financials.