HONG KONG, Dec. 19, 2025 — Intercont (Cayman) Limited (“NCT”, the “Company”, or “we”) (NASDAQ: NCT), a global carbon-neutral shipping company, announced today that it received a notification letter (the “Notification Letter”) from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) on December 15, 2025. The letter informed the Company that it is not currently meeting the minimum bid price requirement outlined in Nasdaq Listing Rule 5550(a)(2). This notification was triggered because the closing bid price for the Company’s ordinary shares (“Ordinary Shares”) remained under $1.00 per share for 30 consecutive trading days between October 31, 2025, and December 12, 2025.
This announcement is made in accordance with Nasdaq Listing Rule 5810(b), which mandates immediate disclosure upon receiving a deficiency notice. The Notification Letter does not have an immediate impact on the listing status of the Company’s Ordinary Shares, and they will continue to be traded on Nasdaq under the symbol “NCT” without interruption.
As per Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted a 180-calendar day compliance period, ending on June 15, 2026 (the “Compliance Period”), to restore compliance with the minimum bid price rule. Should the closing bid price of the Company’s Ordinary Shares reach $1.00 or more for a minimum of 10 consecutive business days at any point during this period, Nasdaq will issue a written confirmation of compliance, thereby resolving the issue.
If the Company fails to regain compliance by June 15, 2026, it may be entitled to an additional grace period. To be eligible, the Company must satisfy the continued listing standards for the market value of publicly held shares and all other initial listing criteria for The Nasdaq Capital Market, excluding the bid price rule. The Company would also be required to submit a written notice of its plan to rectify the deficiency during a second compliance period, potentially through a reverse stock split.
About Intercont (Cayman) Limited
Intercont (Cayman) Limited is an international shipping enterprise that is planning seaborne pulping operations. Guided by a forward-thinking management team, the company is committed to delivering efficient and eco-friendly transportation solutions by leveraging innovative business models and technology. Further information can be found at: https://www.intercontcayman.com.
Forward-Looking Statements
This press release includes forward-looking statements. These statements relate to plans, objectives, goals, strategies, future events or performance, and underlying assumptions, and are not statements of historical fact. The use of terms such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions that are not purely historical indicates forward-looking statements. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual outcomes to differ significantly from the expectations expressed. These statements are affected by uncertainties and risks, including, but not limited to, market conditions and the completion of the initial public offering as planned, along with other factors detailed in the “Risk Factors” section of the registration statement filed with the SEC. Investors are therefore advised against relying excessively on any forward-looking statements herein. More information on these factors is available in the Company’s filings with the SEC at www.sec.gov. The Company does not commit to updating these forward-looking statements to reflect subsequent events or circumstances.
Contact information:
investorrelations@intercontcayman.com
+852-3848-1720
