Pelican Acquisition Corp. (PELIU) Prices $75M IPO

Pelican Acquisition Corp. (NASDAQ:PELIU) announced the pricing of its $75 million IPO and its units began trading on the Nasdaq under the symbol “PELIU”, Friday, May 23, 2025.

The new SPAC aims to combine with a technology company with a defensible market position that would benefit from being publicly traded in the US.

Pelican’s management team is led by Chairman, CEO, CFO, and Director Robert Labbe. The Board also includes Brandon Miller, Daniel M. McCabe and Qi Gong.

Total SPAC deal count for 2025 year-to-date is now 49. This offering is expected to close on Tuesday, May 27, 2025.

EarlyBirdCapital, Inc. is acting as sole book-running manager while IB Capital LLC is acting as co-manager in the offering and qualified independent underwriter. Celine Partners PLLC is serving as Issuer’s Counsel with Graubard Miller LLP serving as Underwriter’s Counsel. CBIZ CPAs, PC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.