Intercont Cayman Prices $6.32M Offering of 8 Million Units at $0.79
NCT•Intercont (Cayman) Limited priced an 8 million-unit public offering at $0.79 per unit, raising gross proceeds of approximately $6.32 million before fees. Each unit includes one warrant exercisable at $0.869 for six months, with net proceeds earmarked for expansion and working capital.
1. Offering Structure
Intercont (Cayman) Limited launched a best-efforts public offering of 8,000,000 units at $0.79 per unit, targeting gross proceeds of approximately $6.32 million before placement agent fees and expenses. Each unit comprises one Class A ordinary share and one warrant to purchase an additional share.
2. Warrant Terms
Each warrant grants the holder the right to purchase one Class A ordinary share at an exercise price of $0.869, exercisable immediately upon issuance and expiring six months later. The structure offers potential incremental funding if warrant holders choose to exercise.
3. Use of Proceeds and Closing
The company expects to close the offering on or about July 8, 2026, subject to customary conditions. Net proceeds will support planned business expansion initiatives, bolster general working capital and fund other corporate needs.
