Pelican Acquisition II Corp.’s (NASDAQ:PLCIU) Quiet Period Set To Expire on September 2nd

Pelican Acquisition II’s (NASDAQ:PLCIU) quiet period will end on Wednesday, September 2nd. Pelican Acquisition II had issued 7,500,000 shares in its public offering 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 that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. 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 Pelican Acquisition II to a “hold” rating in a research report on Saturday, August 1st.

Pelican Acquisition II Stock Performance

Shares of NASDAQ PLCIU opened at $10.03 on Friday. Pelican Acquisition II has a 12 month low of $9.95 and a 12 month high of $10.41.

Pelican Acquisition II Company Profile

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.