Welcome to our dedicated page for Intercure Ltd. SEC filings (Ticker: INCR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
InterCure Ltd. filings document foreign private issuer reports for a medical cannabis company operating as Canndoc. Form 6-K disclosures furnish press releases, interim financial statements, management discussion and XBRL data covering revenue, Adjusted EBITDA, cash flow, cash balances, and production, importation and sales from the company's cannabis operations.
The filing record also covers Nasdaq minimum bid compliance for InterCure's ordinary shares, annual general meeting proxy materials, governance matters, material agreements related to cannabis science and pharmaceutical innovation, and risk disclosures tied to service providers, court proceedings, outstanding checks and operating continuity.
InterCure Ltd. entered a binding term sheet for a private placement providing funding commitments of NIS 22 million (approximately US$7.4 million), which may increase to NIS 54 million (approximately US$18.6 million) if attached warrants are fully exercised for cash. The company plans to issue 7,895,143 ordinary shares at NIS 2.75 per share, a slight premium to the NIS 2.69 Tel Aviv closing price on the determining date, plus warrants to purchase up to an additional 7,895,143 shares at an exercise price of NIS 4.125, representing about a 53% premium to that price.
The warrants will be exercisable for five years, and the securities will be subject to transfer restrictions. Completion depends on definitive documentation, customary closing conditions and, for CEO Alexander Rabinovich’s participation, shareholder approval; other investors do not require such approval. InterCure highlights this financing as supporting recovery and expansion of its Nir Oz facility and broader growth in Israel, Germany and other regulated medical cannabis markets.
InterCure Ltd. has completed the first tranche (50%) of its acquisition of Israeli cannabis technology and brand company Botanico Ltd. (ISHI), and is launching a strategic review of opportunities in regulated U.S. medical cannabis markets following recent federal rescheduling of certain state-licensed medical cannabis to Schedule III.
Through the Botanico transaction, InterCure gains exclusive rights to a broad collection of award-winning American cannabis genetics, proprietary strains, premium brands and advanced AI-driven, automated production technologies, including alliances with leading U.S. operators such as The Flowery. As part of the initial closing, the company will issue 2,471,061 ordinary shares, with an additional 2,470,073 ordinary shares to be issued upon satisfaction of conditions under the share purchase agreement.
InterCure also reports its first meaningful revenues from Germany’s rapidly growing medical cannabis market, has appointed a local management and sales team, and plans multiple product launches there in the second half of the year, supporting its goal of building a leading international medical cannabis platform.
InterCure Ltd. reported 2025 revenue of NIS 270.2 million, up from NIS 238.8 million in 2024, alongside a net loss of NIS 36.8 million. The Company generated positive operating cash flow of NIS 17 million and cannabis-sector Adjusted EBITDA of NIS 46.6 million, marking a twelfth consecutive half-year of positive Adjusted EBITDA.
Operations continued to recover from damage to the Nir Oz facility caused by the October 7, 2023 events, with production, importation and sales resumed and a record 75+ new GMP SKUs launched in 2025. InterCure reported initial meaningful revenue contributions from Germany and pursued global expansion, including a share purchase agreement to acquire Botanico Ltd. (ISHI) and a 28% stake in Cannasoul R&D Ltd. The Company received NIS 82 million in war-related compensation advances against a submitted damages claim of NIS 251 million, and highlighted ongoing regulatory and legal developments as key forward-looking factors.
InterCure Ltd., an Israeli medical cannabis producer listed on Nasdaq and TASE under “INCR”, filed its annual Form 20-F for the year ended December 31, 2025. The company reports 54,681,335 ordinary shares outstanding as of December 31, 2025 and presents IFRS audited financial statements in NIS for 2023–2025.
The filing explains InterCure’s reliance on multiple Israeli medical cannabis licenses (IMC-GAP, IMC-GMP, IMC-GDP and IMC-GSP) and export/import permits, noting that any loss or non-renewal could severely disrupt operations. It highlights heavy regulatory uncertainty in Israel, Europe and the U.S., possible anti-dumping duties on Canadian imports, and evolving ESG and climate expectations.
InterCure describes serious risks from the October 7, 2023 attack, which caused devastating damage to its Southern Facility in Nir Oz; rehabilitation and the level of Israeli government compensation remain uncertain. Additional risks include crop failure, competition from licensed and black-market producers, potential product recalls and liability, cyber and data-privacy incidents, joint-venture dependence, currency and inflation pressures and geopolitical instability in Israel and the wider region.
Intercure Ltd. director Michelson Lennie Grinbaum filed a Form 3 reporting his initial ownership in the company. He holds 6,743 Ordinary Shares directly, along with two blocks of stock options over additional Ordinary Shares.
These include options over 4,406 Ordinary Shares with a converted exercise price of $8.22 per share, granted on January 9, 2020 and fully vested as of January 9, 2023, expiring on January 9, 2030. He also holds options over 15,000 Ordinary Shares with a converted exercise price of $3.10 per share, granted on September 5, 2024, vesting quarterly over four years and expiring on September 5, 2028.
Intercure Ltd. director Granot Alon Shmuel reported an initial holding of share options giving the right to buy 15,000 Ordinary Shares. These options carry an exercise price of $3.10 per share, based on converting a NIS 9.50 price at an exchange rate of NIS 3.06 to $1.00. The options were granted on September 5, 2024, vest quarterly over four years from the grant date, and expire on September 5, 2028.
Intercure Ltd. Chief Executive Officer Alexander Rabinovich filed an initial Form 3 showing his beneficial ownership of the company’s securities. The filing lists indirect holdings of Ordinary Shares through Green Forest Global (A.S.R) Ltd., D.I.M Investments Ltd., and D.I.M Risk Management Ltd., as well as a substantial block of Ordinary Shares held directly.
Rabinovich also reports derivative positions held directly, including 2,070,393 Warrants with an exercise price of $1.86 per share expiring on March 3, 2029, and 460,000 employee share options with an exercise price of $7.11 per share expiring on June 21, 2026.
Intercure Ltd. Chief Financial Officer Amos Cohen filed an initial ownership report showing his existing equity stake in the company. He directly holds Ordinary Shares plus several series of employee share options (right to buy) over Ordinary Shares.
The options cover 134,708 underlying Ordinary Shares expiring on March 14, 2027, 95,292 expiring on August 30, 2026, and 230,000 expiring on May 15, 2026, all at an exercise price of $1.94 per share. The filing also shows 79,947 Ordinary Shares held directly.
Footnotes explain the exercise price is based on a current price of NIS 5.938 per share, converted using an exchange rate of NIS 3.060 to $1.00 as of April 14, 2026. Two option grants were fully vested by March 14, 2025 and August 31, 2025, while the May 15, 2022 grant vests quarterly over four years.
Intercure Ltd. director Gideon Hirschfeld reported his existing holdings of stock options on the company’s ordinary shares. This Form 3 shows two option grants, both held directly, with different exercise prices, vesting terms, and expiration dates.
One option grant covers 4,046 underlying ordinary shares with an exercise price of $8.22 per share, expiring on January 9, 2030. These options were granted on January 9, 2020 and became fully vested on January 9, 2023. A second grant covers 15,000 underlying ordinary shares with an exercise price of $3.10 per share, expiring on September 5, 2028, and vests quarterly over four years from the September 5, 2024 grant date.
Intercure Ltd. director David Salton filed an initial Form 3 detailing his existing option holdings, rather than new trades. He reports share options over 4,046 ordinary shares with a converted exercise price of $8.22 per share, expiring on January 9, 2030; these options were granted in 2020 and became fully vested on January 9, 2023. He also reports share options over 15,000 ordinary shares with a converted exercise price of $3.10 per share, expiring on September 5, 2028, which were granted on September 5, 2024 and vest quarterly over four years.