Intercont (Cayman) Limited to Implement 25-for-1 Share Consolidation on Nasdaq

SINGAPORE, Sept. 14, 2026 /CourierPR/ -- Intercont (Cayman) Limited, a global shipping enterprise, is set to implement a share consolidation at a ratio of 25-for-1, effective as of September 17, 2026. This move is aimed at regaining compliance with the minimum $1.00 bid price per share requirement of Nasdaq’s Marketplace Rule 5550(a)(2).

The company’s board of directors approved the implementation of the reverse split at the ratio of 25-for-1, effective as of September 17, 2026. Under this consolidation, every 25 shares of the company’s issued and outstanding Class A ordinary shares will be combined into one share. The total number of authorized Class A ordinary shares will be reduced from 80,000,000,000 to 3,200,000,000, and the par value will increase from $0.0025 to $0.0625 per share. The number of issued Class A ordinary shares will decrease from 25,437,740 to 1,017,510.

Intercont (Cayman) Limited’s shareholders previously approved the reverse split, granting the board of directors the authority to determine the final consolidation ratio and timing, provided that the implementation occurs within five years from the date of approval. The company’s Class A ordinary shares will trade on the Nasdaq Capital Market on a split-adjusted basis, under the same symbol “NCT” but with a new CUSIP number, G48049129.

No fractional shares will be issued in connection with the reverse split. Any fractional shares resulting from the consolidation will be rounded up at the beneficial holder level. Registered stockholders holding pre-reverse-split ordinary shares of the company’s shares electronically in book-entry form are not required to take any action to receive post-reverse-split shares. Those holding their shares in brokerage accounts or in “street name” will have their positions automatically adjusted to reflect the reverse split, subject to each broker’s particular processes.

Intercont (Cayman) Limited, under a visionary management team, is dedicated to providing customers with efficient and environmentally friendly transportation solutions through innovative business models and technology. The company plans for seaborne pulping operations and aims to continue its commitment to sustainable shipping practices.

The company’s transfer agent, Transhare Corporation, will serve as the exchange agent for the reverse split. The implementation of this share consolidation is expected to help Intercont (Cayman) Limited maintain its listing on the Nasdaq Capital Market and adhere to regulatory requirements.