Pelican Acquisition, a blank check company targeting the global tech industry, filed on Wednesday with the SEC to raise up to $75 million in an initial public offering.
The New York, NY-based company plans to raise $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination.
Pelican Acquisition is led by CEO, CFO, and Chairman Robert Labbe, who currently serves as a manager of real estate advisory firm MCAP Realty Advisors. The SPAC plans to target the tech industry globally, focusing on businesses with enterprise values between $180 million and $1 billion.
Pelican Acquisition was founded in 2024 and plans to list on the Nasdaq under the symbol PELIU. The company filed confidentially on October 10, 2024. EarlyBirdCapital is the sole bookrunner on the deal.
