Pelican Acquisition Corp (PELI) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: September 15, 2025

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 317.35% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
12M
Potential Supply
0
Additional shares possible
Splits
None
Past 2 years

Summary

PELI currently has 12M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 317.35% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Sep 15, 2025

10-Q filing | 12.0M shares outstanding

12M 0
Sep 10, 2025

8-K filing: Pelican Acquisition Corporation entered into a Merger Agreement with Pelican Holdco, Inc., Pelican Merger Sub, Inc., Greenland Exploration Limited, Greenland Merger Sub, Inc., March GL Company, and March GL Merger Sub, Inc. As consideration for the Mergers, the holders of March GL Common Stock will receive 20,000,000 shares of Holdco Common Stock, and the holders of Greenland Common Stock will receive 1,500,000 shares of Holdco Common Stock.

12M 0
Jun 27, 2025

10-Q filing | 12.0M shares outstanding

12M 0
Jun 04, 2025

8-K filing: Pelican Acquisition Corporation consummated an initial public offering of 7,500,000 units at $10.00 per Unit, generating total gross proceeds of $75,000,000; the underwriters purchased 1,125,000 additional units at $10.00 per unit upon the closing of the over-allotment option, generating gross proceeds of $11,250,000; and the Company consummated the private placement of an aggregate of 22,500 units to Pelican Sponsor LLC and EarlyBirdCapital, Inc. at a price of $10.00 per Private Placement Unit, generating gross proceeds of $225,000. ($86.48M proceeds)

N/A 0
Jun 03, 2025

8-K filing: Pelican Acquisition Corporation consummated its initial public offering of 7,500,000 units at $10.00 per unit, generating total gross proceeds of $75,000,000, and a private placement of 276,250 private units at $10.00 per unit, generating total gross proceeds of $2,762,500. The underwriters also exercised their over-allotment option to purchase 1,125,000 additional units at $10.00 per unit, generating total gross proceeds of $11,250,000, and the Company consummated the private placement of an aggregate of 22,500 Private Placement Units to the Sponsor and EBC, at a price of $10.00 per Private Placement Unit, generating gross proceeds of $225,000. ($89.24M proceeds)

N/A 0
May 28, 2025

8-K filing: Pelican Acquisition Corporation consummated its IPO of 7,500,000 units at $10.00 per unit, generating gross proceeds of $75,000,000, and simultaneously consummated a private placement of 276,250 units at $10.00 per unit, generating gross proceeds of $2,762,500. ($77.76M proceeds)

N/A 0
May 20, 2025

S-1/A filing: This S-1/A filing from 2025-05-20 relates to an offering managed by EarlyBirdCapital, Inc. and IB Capital LLC, potentially involving equity or equity-linked securities in connection with an initial business combination, with founder shares issued to the sponsor.

N/A 0
May 02, 2025

S-1/A filing: This S-1/A filing relates to an offering where EarlyBirdCapital, Inc. is the sole book-running manager, and the net proceeds may be used for a business combination, with potential additional financing through equity, equity-linked securities, or loans.

N/A 0
May 01, 2025

S-1/A filing: This S-1/A filing describes a proposed initial public offering of ordinary shares, with EarlyBirdCapital, Inc. as the sole book-running manager, and outlines the company's plans for using the net proceeds from the offering upon completion of an initial business combination.

2.9M 0
Apr 09, 2025

S-1 filing: This S-1 filing outlines a proposed offering related to a special purpose acquisition company's (SPAC) initial business combination, detailing potential financing options and the terms of founder shares and underwriter agreements.

2.9M 0
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