Intercont (Cayman) Limited Announces Effective Time of Share Consolidation/Reverse Share Split to Regain NASDAQ Compliance

Intercont (Cayman) Limited (NASDAQ: NCT) will effect a 25-for-1 reverse share split effective April 2, 2026 to regain compliance with Nasdaq’s $1.00 minimum bid rule.

Rhea-AI Summary

Intercont (Cayman) Limited (NASDAQ: NCT) will effect a 25-for-1 reverse share split effective April 2, 2026 to regain compliance with Nasdaq’s $1.00 minimum bid rule. Post-split trading will continue under NCT with new CUSIP G48049111.

As of the Effective Time every 25 pre-split shares will combine into one share; authorized shares fall from 1,000,000,000 to 40,000,000 and par value changes to $0.0025. Transhare Corporation will act as exchange agent; fractional shares will be rounded up at the beneficial holder level.

Positive

• Reverse split 25-for-1 effective April 2, 2026
• Authorized shares reduced to 40,000,000
• Continued Nasdaq listing under symbol NCT with new CUSIP

Negative

• Reverse split triggered by closing bid below $1.00 Nasdaq threshold
• Share count reduction may reduce trading liquidity post-split
• New CUSIP may require broker/system updates and temporary trading friction

Argus Mar 30 session

-30.72% close to close 2.2x rel. volume Open Argus

Details

News Market Reaction – NCT

On Mar 30, the day this news came out, NCT closed 30.72% below the previous close. That session’s volume was 2.2x the stock’s average daily volume.

Data tracked by StockTitan Argus for the Mar 30 session.

Key Figures

Reverse split ratio: 25-for-1 Nasdaq bid requirement: $1.00 per share Max authorized ratio: 100:1 +5 more

Reverse split ratio

25-for-1

Ordinary share consolidation effective April 2, 2026

Nasdaq bid requirement

$1.00 per share

Minimum bid price under Nasdaq Marketplace Rule 5550(a)(2)

Max authorized ratio

100:1

Shareholders authorized consolidation ratio ceiling on Jan 26, 2026

Authorized shares pre-split

1,000,000,000 shares

Total authorized ordinary shares before consolidation

Authorized shares post-split

40,000,000 shares

Total authorized ordinary shares after consolidation

Par value post-split

$0.0025 per share

Par value for ordinary shares after consolidation

Compliance window

180 days

Period after shareholder approval to implement consolidation if below $1.00

New CUSIP

G48049111

CUSIP for Class A ordinary shares post reverse split

Historical Context

4 past events · Latest: Feb 12

4 events

1. Feb 12

   Strategic plan update

   24h Move

   -5.4%

   Unveiled 2026 plan combining green ro-ro shipping, Web3, and AI infrastructure.

2. Dec 19

   Nasdaq deficiency notice

   24h Move

   -9.1%

   Disclosed Nasdaq minimum bid price deficiency and compliance deadlines.

3. Dec 08

   Web3 acquisition MOU

   24h Move

   +6.2%

   Announced MOU for minority stake in Starks Network and zCloak project.

4. Dec 01

   Ro-ro partnership

   24h Move

   -26.9%

   Entered ro-ro vessel partnership with large multi-year revenue and profit projections.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

reverse share split, nasdaq capital market, cusip, beneficial holder, +4 more

8 terms

reverse share split financial

"announced that it will effect a share consolidation (“Reverse Share Split”) of its ordinary"

A reverse share split is when a company reduces the number of its shares outstanding by combining multiple shares into one, effectively increasing the price of each share. For investors, this can help improve the company's image or meet stock exchange listing requirements, but it does not change the total value of their investment. It’s similar to turning many small pieces of a puzzle into fewer larger pieces—nothing new is added or lost, just rearranged.

nasdaq capital market regulatory

"Class A ordinary shares will trade on the Nasdaq Capital Market on a split-adjusted"

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

cusip technical

"on the Nasdaq Capital Market on a split-adjusted basis, under the same symbol “NCT” but under a new CUSIP number"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

View in glossary

beneficial holder financial

"fractional shares of Class A Ordinary Shares resulting from the Reverse Share Split will be rounded up at the beneficial holder level."

A beneficial holder is the person or entity that enjoys the rights and economic benefits of owning a security — such as dividends, price gains, and voting power — even if the legal title is recorded in someone else’s name (for example, a broker or custodian). This matters to investors because beneficial holders are the ones who actually gain or lose from a company’s performance and whose holdings determine voting influence and reporting obligations, much like a renter who pays and decides how to use a car they effectively control even if the registration lists another name.

transfer agent financial

"The Company’s transfer agent, Transhare Corporation, will serve as the exchange agent"

A transfer agent is a financial service that keeps the official record of who owns a company's shares, handles the buying and selling of those shares on paper or electronically, and issues or cancels stock certificates. Think of it as the company’s records keeper and mailroom combined—investors rely on it to make sure dividends, shareholder mailings, ownership changes, and proxy voting are processed accurately and securely, which protects ownership rights and helps prevent errors or fraud.

exchange agent financial

"transfer agent, Transhare Corporation, will serve as the exchange agent for the Reverse Share Split."

An exchange agent is a third party appointed to handle the practical steps when securities are being swapped, such as during mergers, tender offers, or restructurings. Think of it as a trusted post office that collects old shares, verifies ownership, completes required paperwork and regulatory filings, and delivers the new shares or cash to investors; its efficiency and accuracy affect how quickly and safely investors receive the value they're owed.

book-entry financial

"stockholders holding pre-Reverse Share Split ordinary shares of the Company’s electronically in book-entry form are not required"

A book-entry is an electronic record that shows who legally owns a share, bond or other security instead of a paper certificate. Think of it like a bank ledger entry that tracks ownership and transfers; it makes buying, selling, dividend payments and ownership checks faster, cheaper and less risky for investors because nothing physical needs to be moved or stored.

street name financial

"Those stockholders who hold their shares in brokerage accounts or in “street name” will have their positions automatically"

A "street name" is a way that stocks or other financial assets are registered under a broker's name rather than directly in an individual investor's name. This allows for easier buying, selling, and transferring of the assets, much like how a library might hold books on behalf of many readers. For investors, using a street name simplifies transactions and helps maintain privacy, but it also means the broker is the official record holder of ownership.

View in glossary

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SINGAPORE, March 30, 2026 (GLOBE NEWSWIRE) -- Intercont (Cayman) Limited (“Intercont” or the “Company”), a global shipping enterprise, today announced that it will effect a share consolidation (“Reverse Share Split”) of its ordinary shares at a ratio of 25-for-1, effective as of April 2, 2026 (the “Effective Time”), in order to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq’s Marketplace Rule 5550(a)(2).

Beginning with the opening of trading on April 2, 2026, 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 under a new CUSIP number, G48049111.

The Company’s shareholders previously approved the reverse split and granted the Company’s board of directors the authority to determine the final consolidation ration (not to exceed 100:1) and when to proceed with the share consolidation, in the event that the closing bid price per listed share of the Company falls below $1.00 on The NASDAQ Stock Market, within 180 days of shareholder approval at an Extraordinary General Meeting of Shareholders held on January 26, 2026. On March 22, 2026, the Company’s board of directors approved the implementation of the Reverse Share Split at the ratio of 25-for-1 as of the Effective Time.

As of the Effective Time, every 25 shares of the Company’s issued and outstanding ordinary shares will be combined into one issued and outstanding ordinary share without any action on the part of the shareholders. The total number of authorized ordinary shares will be reduced from 1,000,000,000 to 40,000,000, and the par value will change to $0.0025 per share. No fractional Class A Ordinary Shares will be issued in connection with the Reverse Share Split, and any fractional shares of Class A Ordinary Shares resulting from the Reverse Share Split will be rounded up at the beneficial holder level.

The Company’s transfer agent, Transhare Corporation, will serve as the exchange agent for the Reverse Share Split. Registered stockholders holding pre-Reverse Share Split ordinary shares of the Company’s electronically in book-entry form are not required to take any action to receive post- reverse-split shares. Those stockholders who hold their shares in brokerage accounts or in “street name” will have their positions automatically adjusted to reflect the Reverse Share Split, subject to each brokers’ particular processes, and will not be required to take any action in connection with the Reverse Share Split.

About Intercont (Cayman) Limited

Intercont (Cayman) Limited is a global shipping enterprise with plans for seaborne pulping operations. Under a visionary management team, Intercont is dedicated to providing customers with efficient and environmentally friendly transportation solutions through innovative business models and technology. For more information, please visit: https://www.intercontcayman.com.

Forward-Looking Statement

This press release contains statements of a forward-looking nature. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Contact information:

investorrelations@intercontcayman.com

+65 88182399

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the reverse share split for Intercont (NCT) and when is it effective?

The reverse split is a 25-for-1 consolidation effective April 2, 2026. According to the company, the board approved the 25-for-1 ratio on March 22, 2026, and the split takes effect at the opening of trading on April 2, 2026.

Why is Intercont (NCT) doing a 25-for-1 reverse split on April 2, 2026?

To regain compliance with Nasdaq’s $1.00 minimum bid requirement. According to the company, the action responds to a closing bid below $1.00 and aims to satisfy Marketplace Rule 5550(a)(2).

How will the Intercont (NCT) reverse split affect my share count and par value?

Every 25 pre-split shares will become one post-split share; par value becomes $0.0025. According to the company, authorized shares will be reduced from 1,000,000,000 to 40,000,000 at the Effective Time.

Will Intercont (NCT) shareholders need to take action for the April 2, 2026 reverse split?

No action is required for registered or brokerage account holders; positions will be adjusted automatically. According to the company, brokerage processing is subject to each broker’s timing and procedures.

What happens to fractional Intercont (NCT) shares after the 25-for-1 reverse split?

No fractional Class A ordinary shares will be issued; fractional holdings are rounded up at the beneficial holder level. According to the company, rounding up will occur rather than issuing cash-in-lieu.

Will Intercont (NCT) keep the same ticker and what is the new CUSIP after the split?

The company will continue to trade as NCT on Nasdaq but under new CUSIP G48049111. According to the company, trading will be on a split-adjusted basis beginning April 2, 2026.