Pelican Acquisition II’s (NASDAQ:PLCIU – Get Free Report) quiet period will end on Wednesday, September 2nd. Pelican Acquisition II had issued 7,500,000 shares in its IPO on July 24th. The total size of the offering was $75,000,000 based on an initial share price of $10.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded shares of Pelican Acquisition II to a “hold” rating in a research report on Saturday, August 1st.
View Our Latest Stock Report on PLCIU
Pelican Acquisition II Price Performance
About Pelican Acquisition II
Pelican Acquisition II, also known as Pelican Acquisition Corporation II, is a special purpose acquisition company (SPAC) listed on the Nasdaq under the symbol PLCIU. The company was formed to pursue a business combination, such as a merger, acquisition, or similar transaction, with one or more operating businesses.
Unlike an operating company, Pelican Acquisition II does not currently offer products or services to customers. Its primary activities involve raising capital through a public offering, evaluating potential acquisition targets, and negotiating a transaction intended to create a publicly traded operating company.
Publicly available information does not identify a completed acquisition, a specific target industry or geography, or sufficient details about the company’s leadership and operations.
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