Corporate ActionJul 29, 2026, 09:33 AM
Pelican Acquisition II Corp Closes $86.25M IPO
AI Summary
Pelican Acquisition II Corporation announced the closing of its initial public offering on July 27, 2026, generating aggregate gross proceeds of $86,250,000. The offering included 8,625,000 units priced at $10.00 each, with the underwriters fully exercising their over-allotment option. Each unit consists of one ordinary share and one right, with rights entitling holders to one-tenth of an ordinary share upon a business combination. The units are listed on Nasdaq under the ticker symbol "PLCIU".
Key Highlights
- Initial public offering closed on July 27, 2026.
- Aggregate gross proceeds totaled $86,250,000.
- Issued 8,625,000 units at $10.00 per unit.
- Underwriters fully exercised over-allotment option for 1,125,000 units.
- Units began trading on Nasdaq under "PLCIU" on July 24, 2026.
- Ordinary shares and rights expected to trade as "PLCI" and "PLCIR" separately.
Price Impact
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