Pelican Acquisition II prices $75M IPO on Nasdaq

Pelican Acquisition II Corporation (NASDAQ: PLCIU), a blank check company incorporated in the Cayman Islands, priced its initial public offering of 7,500,000 units at $10.00 per unit, raising $75,000,000, according to a press release statement.

The units began trading on the Nasdaq Capital Market under the ticker symbol "PLCIU" on July 24, 2026. Each unit consists of one ordinary share and one right, with each right entitling the holder to receive one-tenth of one ordinary share upon completion of an initial business combination.

Once the units separate, the ordinary shares and rights are expected to trade on Nasdaq under the symbols "PLCI" and "PLCIR," respectively. The offering is expected to close on July 27, 2026, subject to customary closing conditions.

EarlyBirdCapital, Inc. is acting as sole book-running manager. EarlyBirdCapital has been granted a 45-day option to purchase up to an additional 1,125,000 units at the IPO price to cover any over-allotments.

The Securities and Exchange Commission declared the registration statement effective on July 23, 2026. Pelican Acquisition II was formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination. The company has not limited its target search to any particular industry or geographic region.

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