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Intercont (Cayman) Limited (NASDAQ:NCT) received a Nasdaq notification on December 15, 2025, for failure to meet the $1.00 minimum bid price requirement after the closing bid stayed below $1.00 for 30 consecutive business days from October 31, 2025 to December 12, 2025.
The Notification Letter does not affect the current listing or trading of Ordinary Shares, which continue to trade under NCT. The company has a 180-calendar-day compliance period until June 15, 2026 to regain a $1.00 closing bid for at least 10 consecutive business days or pursue Nasdaq’s second compliance period, which may require meeting market-value standards and possibly a reverse stock split.
Intercont (Cayman) Limited (Nasdaq: NCT) announced on December 8, 2025 that it signed a Memorandum of Understanding to acquire a less than 50% minority stake in Singapore-based Web3 provider Starks Network Ltd and to co-develop Project zCloak Network.
Starks Network offers AI identity, enterprise self-custodial wallets, stablecoin payment systems, and AI-powered crypto payment technologies, and has received Hong Kong Cyberport incubation support and investment from firms including Coinbase Ventures. The release cites industry context: BlackRock AUM $13.46T (Q3 2025) and digital asset market cap growth from $5B (2022) to $25.5B (July 2025).
Management highlighted potential high-margin enterprise revenue (cited US$30–40M annual ranges for comparable infrastructure providers) while noting the transaction currently rests on an MOU.
NCT (Nasdaq: NCT) announced on December 1, 2025 that its Singapore subsidiary Openwindow entered a strategic partnership with CINCO INTERNATIONAL HONGKONG LIMITED to expand NCT’s ro-ro shipping segment and add contracted, multi-year cash flow.
The deal foresees takeover of existing time charters and, based on agreed daily rates and charter periods, projects cumulative contract revenue of US$118.25 million and cumulative net profit of US$88.96 million. Ro-ro vessels in the partnership feature low-carbon technologies (LNG dual-fuel, methanol-ready systems, onboard solar) and are estimated to cut carbon output per voyage by ~30%. The transaction remains subject to satisfactory due diligence and execution of a formal Ship Purchase Agreement.
Intercont (NASDAQ: NCT), a global shipping company, reported its unaudited financial results for H1 2025. The company saw revenue growth of 8% to $13.4 million, with gross profit increasing 14% to $3.8 million. However, net income declined by 43% to $0.9 million compared to $1.6 million in the same period of 2023.
The company successfully completed its IPO on March 28, 2025, raising gross proceeds of $10.5 million. Additional proceeds of $1.14 million were received from a partial exercise of the over-allotment option. As of December 31, 2024, cash and cash equivalents stood at $4.9 million, up from $3.8 million in June 2024. In April 2025, the company invested approximately $10.2 million in short-term wealth management products to improve capital efficiency.
Intercont has successfully completed its Initial Public Offering (IPO) on the Nasdaq Capital Market under ticker symbol NCT. The company raised $10.5 million in gross proceeds through the offering of 1,500,000 ordinary shares priced at $7.00 per share.
The trading commenced on March 28, 2025, with Kingswood Capital Partners acting as the sole book-runner. The company granted underwriters a 45-day option to purchase up to 225,000 additional shares to cover over-allotments.
The net proceeds will be utilized to:
- Expand fleet and increase working capital
- Develop onboard pulp manufacturing technologies
- Promote maritime ESG initiatives
- Strengthen research, marketing, and manufacturing teams
Intercont (Cayman), a global shipping enterprise focused on seaborne pulping operations, has announced the pricing of its Initial Public Offering (IPO) on the Nasdaq Capital Market under ticker symbol NCT.
The company is offering 1,500,000 ordinary shares at $7.00 per share, expecting to raise $10.5 million in gross proceeds. Trading will commence on March 28, 2025, with an additional 225,000 shares available through a 45-day over-allotment option.
The net proceeds will fund:
- Working capital expansion for fleet, raw materials, and marketing
- Development of onboard pulp manufacturing technologies
- Maritime ESG initiatives and industrialization processes
- Expansion of R&D, marketing, and manufacturing teams
Kingswood Capital Partners is serving as the sole book-runner for this firm commitment offering, expected to close on March 31, 2025.
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