Pelican Acquisition II, a blank check company targeting the technology 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 one share at the time of the business combination.
Pelican Acquisition II is led by CEO, CFO, and Chairman Robert Labbe, who is the manager of MCAP Realty Advisors. His previous SPAC, Pelican Acquisition, went public in 2025 and completed its business combination with oil driller Greenland Energy (GLND; -78% from $10 offer price) in March 2026. The SPAC intends to target businesses in the technology industry globally with long-term growth potential and highly defensible market positions.
The New York, NY-based company will trade on the Nasdaq under the symbol PLCIU. EarlyBirdCapital acted as sole bookrunner on the deal.
