Pelican Acquisition, a blank check company targeting the global tech industry, raised $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 plans to list on the Nasdaq under the symbol PELIU. EarlyBirdCapital acted as sole bookrunner on the deal.
