Intercont Plans 25-for-1 Reverse Share Split to Regain Nasdaq Compliance
Intercont (Cayman) Limited will effect a 25-for-1 reverse share split on April 2, 2026 to boost its Class A ordinary shares above Nasdaq’s $1.00 bid requirement. Post-split, authorized shares shrink from 1,000,000,000 to 40,000,000 with par value $0.0025 and fractional shares rounded up.
1. Reverse Split Mechanics
Intercont will consolidate every 25 ordinary shares into one share effective April 2, 2026 under new CUSIP G48049111 while retaining the NCT trading symbol on Nasdaq.
2. Nasdaq Compliance and Share Structure
The consolidation aims to lift the bid price above Nasdaq’s $1.00 minimum, reducing authorized shares from 1,000,000,000 to 40,000,000 and setting par value at $0.0025 per share.
3. Shareholder Procedures
No action is required for holders in book-entry or street name; brokerage accounts will adjust positions automatically and fractional shares below full allotments will be rounded up at the beneficial holder level.