Intercont (Cayman) Limited Receives Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency

Rhea-AI Summary

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.

Positive

• Ordinary Shares continue trading uninterrupted on Nasdaq
• Company granted a 180-day compliance window to cure the deficiency

Negative

• Closing bid below $1.00 for 30 consecutive business days (Oct 31–Dec 12, 2025)
• Potential need for a reverse stock split if compliance not regained by June 15, 2026
• Requirement to meet market-value of publicly held shares to qualify for second period

Key Figures

Minimum bid price $1.00 per share Nasdaq Listing Rule 5550(a)(2) requirement

Deficiency period 30 consecutive business days Closing bid below $1.00 from Oct 31 to Dec 12, 2025

Compliance period length 180 calendar days Time to regain minimum bid price compliance until June 15, 2026

Compliance trading requirement 10 consecutive business days Bid at or above $1.00 needed within Compliance Period

Current share price $0.265 At 52-week low and below Nasdaq $1 bid threshold

Market Reality Check

$0.2230 Last Close

Volume Volume 283,457 is below 20-day average 1,412,838 (relative volume 0.2) ahead of the deficiency notice. low

Technical Shares at 0.265 are trading below the 200-day MA of 2.55 and sit at the 52-week low.

Peers on Argus 1 Down

NCT gained 4.21% while key peers were mixed: EDRY (-1.39%), HTCO (-25.21%), PSHG (-0.45%), GLBS (+11.11%), CTRM (+0.45%). Only HTCO appeared in momentum scans, moving down, indicating today’s setup looked stock-specific rather than a coordinated marine shipping move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 08	Strategic acquisition	Positive	+6.2%	Minority stake MOU in Web3 firm Starks Network to expand digital assets.
Dec 01	Ro-ro partnership	Positive	-26.9%	Long-term ro-ro vessel partnership projecting sizable revenue and net profit.
Jul 15	H1 2025 earnings	Neutral	-4.4%	Revenue and gross profit growth offset by a sharp decline in net income.

Pattern Detected

Recent news showed mixed alignment: one strategic deal with a strong selloff, another acquisition with a positive reaction, and earnings drawing only a modest decline.

Recent Company History

Over the past six months, NCT reported several notable developments. On July 15, 2025, it posted H1 2025 results with 8% revenue growth to $13.4M but a 43% net income decline to $0.9M, which saw shares fall 4.44%. On December 1, 2025, a ro-ro vessel partnership projecting $118.25M revenue and $88.96M net profit led to a 26.87% drop. In contrast, a December 8, 2025 minority Web3 acquisition announcement coincided with a 6.19% gain. Today’s Nasdaq bid-price deficiency notice follows this volatile pattern.

Market Pulse Summary

The stock moved -9.1% in the session following this news. A negative reaction despite the procedural nature of the notice would fit a pattern of volatility in NCT. Shares already sat at a 52-week low of $0.265 and well under the 200-day MA of 2.55, so further downside would underscore market concern about compliance and financing flexibility. Historical events included both strong selloffs and modest declines after news, highlighting sensitivity to perceived risk.

Key Terms

minimum bid price requirement regulatory

"not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2)"

A minimum bid price requirement is a rule that a stock must trade above a set price for a specified period to stay listed on an exchange. It matters to investors because falling below that threshold can trigger warnings or removal from the exchange, which can cut liquidity, reduce visibility, and often lead to sharper declines in share value—think of it like a venue’s minimum dress code that, if not met, can bar a performer from the stage.

reverse stock split financial

"including by effecting a reverse stock split, if necessary"

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

AI-generated analysis. Not financial advice.

HONG KONG, Dec. 19, 2025 (GLOBE NEWSWIRE) -- Intercont (Cayman) Limited (“NCT”, the “Company”, or “we”) (NASDAQ: NCT), a global carbon-neutral shipping company, today announced that, on December 15, 2025, the Company received a notification letter (the “Notification Letter”) from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2). The Notification Letter is based upon the fact that the closing bid price of the Company’s ordinary shares (“Ordinary Shares”) was below $1.00 per share for a period of 30 consecutive business days from October 31, 2025 to December 12, 2025.

This press release is issued pursuant to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification. The Notification Letter has no immediate effect on the listing of the Company’s Ordinary Shares, which will continue to trade uninterrupted on Nasdaq under the ticker “NCT”.

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until June 15, 2026 (the “Compliance Period”), to regain compliance with Nasdaq’s minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per share of the Company’s Ordinary Shares is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.

In the event the Company does not regain compliance with the minimum bid price requirement by June 15, 2026, the Company may be eligible for additional time of grace period. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, including by effecting a reverse stock split, if necessary.

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 Statements

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
+852-3848-1720

FAQ

What did Nasdaq notify Intercont (NASDAQ:NCT) about on December 15, 2025?

Nasdaq notified the company that its closing bid was below $1.00 for 30 consecutive business days, triggering a minimum bid price deficiency.

How long is the compliance period for NCT to regain the $1.00 minimum bid price?

NCT has a 180-calendar-day compliance period ending on June 15, 2026 to regain compliance.

What must NCT achieve to regain Nasdaq compliance during the first period?

The closing bid must be at least $1.00 for a minimum of 10 consecutive business days to receive written confirmation of compliance.

Will Intercont’s shares stop trading after the Nasdaq notification?

No; the Notification Letter has no immediate effect and Ordinary Shares will continue to trade on Nasdaq under NCT.

What happens if NCT does not regain compliance by June 15, 2026?

The company may seek a second compliance period but must meet market-value and other initial listing standards and may need to effect a reverse stock split.

How could a reverse stock split affect NCT shareholders?

A reverse stock split would reduce the number of outstanding shares and proportionally increase the per-share price, which may affect liquidity and share count.