Monitor for the effective date of the registration statement and subsequent listing on Nasdaq. The 21-month deadline to consummate a business combination creates a binary catalyst timeline. Track any target announcements or extensions via subsequent 8-K filings.
Executive Summary
Pelican Acquisition II Corp filed an amended S-1 registration statement for its $75M SPAC IPO, offering 7.5M units at $10.00 each, each consisting of one ordinary share and one right. The amendment includes the executed underwriting agreement with EarlyBirdCapital and amended corporate charter documents, marking a routine step toward IPO effectiveness.
Key Financial Metrics
Key Facts
- Offering 7,500,000 units at $10.00/unit for $75,000,000 gross proceeds
- Each unit consists of one ordinary share and one right (1/10 share upon business combination)
- Underwriters granted 45-day over-allotment option for up to 1,125,000 additional units
- Sponsor purchased 2,875,000 founder shares for $25,000
- Sponsor and Representative purchasing 386,500 private units at $10.00/unit
- Net proceeds of $75,750,000 to be deposited in trust account
- 21 months from offering closing to complete initial business combination
- No specific target business identified; focus on technology globally
- Working capital of approximately $960,000 held outside trust account
Financial Impact
$75,000,000 gross IPO proceeds plus up to $11,250,000 from over-allotment; $75,750,000 deposited in trust account with ~$960,000 for working capital
Risk Factors
- No identified acquisition target; may fail to complete business combination within 21 months
- Founder and private unit holders could have conflicts of interest with public shareholders
- Dilution from founder shares, private units, and over-allotment options
- Sponsor and insiders may have significant influence over shareholder votes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-1/A Filing (Primary) | 0001829126-26-006527 |
| Document: pelicanacq2_ex3-1.htm | 0001829126-26-006527 |
| Document: pelicanacq2_ex1-1.htm | 0001829126-26-006527 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 31, 2026 12w ago | 8-K | — | awaiting T+20 | — | — |
Jul 24, 2026 13w ago | 424B4 | — | awaiting T+20 | — | — |
Jul 24, 2026 13w ago | EFFECT | — | awaiting T+20 | — | — |
Jul 10, 2026 15w ago | S-1/A | — | awaiting T+20 | — | — |
Jun 16, 2026 19w ago | S-1/A | — | awaiting T+20 | — | — |
US Market Status
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