Intercont (Cayman) effects 25-for-1 reverse stock split to regain Nasdaq compliance - NCT News | RalliesIntercont (Cayman) effects 25-for-1 reverse stock split to regain Nasdaq compliance
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NCT• Reverse stock split and Nasdaq compliance
- Intercont (Cayman) will implement a 25-for-1 reverse share split of its Class A ordinary shares effective Sept. 17, 2026.
- The split is intended to help the company meet Nasdaq’s $1 minimum bid-price rule under Marketplace Rule 5550(a)(2).
- Class A shares will trade split-adjusted on Sept. 17 under NCT; new CUSIP G48049129.
- Issued Class A shares will fall to 1,017,510 from 25,437,740; authorized Class A shares will drop to 3.2 billion from 80 billion.
- Fractional Class A shares will be rounded up at the beneficial holder level.
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