IPOs & Offerings

Pelican Acquisition II reports closing of initial public offering

Pelican Acquisition II Corporation disclosed the closing of its initial public offering and a simultaneous private placement in a Form 8-K filed with the Securities and Exchange Commission.

By Carter Hayes ·

Key takeaways

  • The company completed an initial public offering of 8,625,000 units on July 27, 2026.
  • The offering price was $10.00 per unit, and the underwriters exercised their over-allotment option in full.
  • Each unit includes one ordinary share and a right tied to the completion of an initial business combination.
  • The company also completed a private placement of 386,500 units at the same time as the public offering.

Public offering closes

Pelican Acquisition II Corporation reported that it completed its initial public offering on July 27, 2026. The offering covered 8,625,000 units, including 1,125,000 units issued through the underwriters’ full exercise of their over-allotment option.

The units were offered at $10.00 each. EarlyBirdCapital Inc. acted as the sole book-running manager under an underwriting agreement dated July 23, 2026.

Unit terms and exchange listing

Each unit consists of one ordinary share and one right. Upon the completion of the company’s initial business combination, each right provides for one-tenth of an ordinary share.

The company’s units, ordinary shares and rights are registered on the Nasdaq Stock Market LLC under the symbols PLCIU, PLCI and PLCIR, respectively.

Private placement completed concurrently

Simultaneously with the initial public offering, the company completed a private placement of 386,500 units at $10.00 per private unit. Pelican II Capital Solutions Limited, the company’s sponsor, purchased 311,500 units, while EarlyBirdCapital Inc. and/or its designees purchased 75,000 units.

The private units are identical to those sold in the initial public offering except for specified transfer restrictions and registration rights. The company reported no underwriting discounts or commissions for the private placement.

Board appointments and related agreements

Effective July 23, 2026, Daniel M. McCabe, Becky Fallon and Sean Michael Deegan became directors. The board determined that each qualifies as independent under applicable Nasdaq standards and Securities and Exchange Commission rules.

The filing identifies agreements associated with the offering, including underwriting, rights, trust, registration-rights, private-placement purchase and share-escrow agreements. The company also adopted amended and restated memorandum and articles of association effective with its registration statement.