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SPAC · Merger completed

Pelican Acquisition Corp

Business combination with Greenland Exploration Limited / March GL Company

Pelican Acquisition Corp is a blank-check company (SPAC) that raised $75M in its initial public offering on May 23, 2025, listing on Nasdaq Global Market. It completed its business combination with Greenland Exploration Limited / March GL Company on Mar 25, 2026; the combined company is Greenland Energy Company (GLND). EarlyBird led the IPO, with IB Capital. Ogier advised the SPAC and Graubard Miller advised the underwriters on the IPO.

Greenland Exploration Limited is a Texas-based entity focused on developing strategic positions in North American energy assets. Affiliated March GL Company agreed with 80 Mile to start drilling in the Jameson oil and gas basin in Greenland, and will earn up to a 70% interest.

Status
Merger completed
IPO date
May 23, 2025
IPO size
$75M
IPO exchange
Nasdaq Global Market
Target
Greenland Exploration Limited / March GL Company
Announced
Sep 10, 2025
Closed
Mar 25, 2026
Combined company
Greenland Energy Company (GLND)
IPO underwriters
EarlyBird and IB Capital
SPAC counsel (IPO)
Ogier
Underwriters' counsel (IPO)
Graubard Miller

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