Intercont (Cayman) Limited announced a reverse stock split of its Class A ordinary shares at a ratio of 25-for-1, effective September 17, 2026. This action aims to regain compliance with Nasdaq’s minimum $1.00 bid price requirement. The consolidation reduces the total number of authorized shares from 80 billion to 3.2 billion and issued shares from approximately 25.4 million to roughly 1.02 million, while increasing par value from $0.0025 to $0.0625 per share. Fractional shares will be rounded up at the beneficial holder level without requiring shareholder action. Intercont (Cayman) Limited operates in the global shipping industry with plans for seaborne pulping operations.
