Research analysts covering Intercont (Cayman).
Recent press releases and 8-K filings for NCT.
Intercont (Cayman) Ltd to Hold EGM on Share Capital Increase, Dual-Class Structure, and Potential Reverse Stock Split
NCT
Delisting/Listing Issues
Board Change
- Intercont (Cayman) Limited (NCT) will hold an Extraordinary General Meeting on January 26, 2026, to vote on proposals including a share capital increase, a new dual-class share structure, and a potential share consolidation.
- The proposed dual-class structure would introduce Class B Ordinary Shares with 30 votes per share, significantly more than the one vote per Class A share.
- If approved, the redesignation of shares would grant Ms. Muchun Zhu, the Company's CEO and Chairman, more than 50% of the Company's voting power.
- Shareholders will also vote on a proposal to consolidate shares (reverse stock split) by a ratio of up to 100:1 if the NASDAQ closing bid price falls below US$1.00, aiming to regain compliance with NASDAQ listing rules by June 15, 2026.
Dec 23, 2025, 7:03 PM
Intercont (Cayman) Limited receives Nasdaq minimum bid price deficiency notification
NCT
Delisting/Listing Issues
- Intercont (Cayman) Limited (NCT) received a Nasdaq notification on December 15, 2025, for failing to meet the minimum bid price requirement, as its shares traded below $1.00 for 30 consecutive business days from October 31, 2025, to December 12, 2025.
- The company has a 180-calendar-day compliance period, until June 15, 2026, to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive business days.
- This notification does not result in immediate delisting, and the shares will continue to trade under the symbol "NCT".
- If compliance is not regained by June 15, 2026, NCT may be eligible for an additional grace period, potentially requiring a reverse stock split to cure the deficiency.
Dec 22, 2025, 1:30 PM
Intercont (Cayman) Limited Receives Nasdaq Minimum Bid Price Deficiency Notification
NCT
Delisting/Listing Issues
- Intercont (Cayman) Limited (NCT) received a Nasdaq notification letter on December 15, 2025, indicating non-compliance with the minimum bid price requirement.
- This non-compliance resulted from the company's ordinary shares trading below $1.00 per share for 30 consecutive business days from October 31, 2025, to December 12, 2025.
- NCT has a 180-calendar-day compliance period, until June 15, 2026, to regain compliance by achieving a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.
- If compliance is not regained by June 15, 2026, the company may be eligible for an additional grace period, potentially requiring a reverse stock split.
Dec 20, 2025, 3:00 AM
Intercont (Cayman) Limited Announces Strategic Acquisition of Starks Network Ltd
NCT
M&A
New Projects/Investments
- Intercont (Cayman) Limited (NCT) announced on December 8, 2025, its intent to acquire a minority stake of less than 50% in Starks Network Ltd, a Singapore-based Web3 technology service provider.
- The partnership involves co-developing the zCloak Network project under Starks Network, which specializes in AI identity, enterprise self-custodial wallets, stablecoin payment systems, and AI-powered crypto payment technologies.
- This acquisition is a decisive step in NCT's long-term strategy to expand into the digitization of real-world assets and reinforce its leadership in global shipping services by leveraging blockchain technology.
Dec 8, 2025, 2:24 PM
Intercont (Cayman) Limited to Acquire Minority Stake in Web3 Innovator Starks Network Ltd
NCT
M&A
New Projects/Investments
- Intercont (Cayman) Limited (NCT) has entered into a Memorandum of Understanding (MOU) to acquire a less than 50% minority stake in Starks Network Ltd, a Singapore-based Web3 technology service provider and co-developer of Project zCloak Network.
- This strategic agreement aims to jointly advance the integration of maritime services and blockchain technology and expand NCT's strategy into the digitization of real-world assets.
- The acquisition positions NCT to participate in the rapidly expanding Web3 market, which saw global stablecoin transaction volume surpass Visa and Mastercard combined in 2024 and the overall digital asset market capitalization surge from $5 billion in 2022 to over $25.5 billion by July 2025.
Dec 8, 2025, 2:20 PM
NCT Enters Ro-Ro Vessel Partnership
NCT
New Projects/Investments
Revenue Acceleration/Inflection
- Intercont (Cayman) Limited (NCT) announced that its Singapore subsidiary, Openwindow, has entered into a strategic partnership with CINCO INTERNATIONAL HONGKONG LIMITED for ro-ro vessels.
- This partnership is projected to generate US$118.25 million in cumulative contract revenue and an estimated US$88.96 million in cumulative net profit.
- The initiative aims to strengthen NCT's earnings visibility, expand its shipping segment, and advance its carbon-neutral fleet strategy by utilizing efficient, low-emission ro-ro vessels.
- The transaction is subject to customary conditions, including satisfactory due diligence and the execution of a formal Ship Purchase Agreement.
Dec 2, 2025, 12:41 PM
Intercont (Cayman) Limited Enters into Securities Purchase and Registration Rights Agreements
NCT
Debt Issuance
- Intercont (Cayman) Limited (NCT) entered into a Securities Purchase Agreement and a Registration Rights Agreement with Streeterville Capital, LLC on September 4, 2025.
- Under these agreements, Streeterville Capital, LLC committed to purchase up to $10,000,000 in Pre-Paid Purchases for Ordinary Shares, and received 85,470 Commitment Shares and 2,555,000 Pre-Delivery Shares.
- The initial Pre-Paid Purchase is for a principal amount of $2,175,000, subject to an Original Issue Discount (OID) of $160,000 and a transaction expense amount of $15,000.
- Intercont (Cayman) Limited is obligated to file a Registration Statement on Form F-1 within 45 days from the September 9, 2025 Closing Date, covering up to 40,000,000 Ordinary Shares for resale by the investor.
- The investor's beneficial ownership of the company's outstanding Ordinary Shares is limited to 9.99%.
Sep 19, 2025, 8:30 PM
Intercont (Cayman) Limited Enters into Share Purchase Agreement
NCT
- Intercont (Cayman) Limited entered into an Ordinary Share Purchase Agreement with White Lion Capital LLC, effective August 20, 2025.
- Under the agreement, White Lion Capital LLC is committed to purchase up to $10,000,000 in aggregate gross purchase price of Intercont's newly issued ordinary shares, with the possibility to increase this amount to $30,000,000 upon mutual written consent.
- The company can issue purchase notices for shares, with Rapid Purchase Notices not exceeding $1,000,000 and Jumbo Purchase Notices not exceeding $4,000,000.
- White Lion Capital's beneficial ownership is limited to 4.99% of the outstanding ordinary shares, though this can be increased to 9.99% at its sole discretion with prior written notice.
- A Registration Rights Agreement was also executed, requiring Intercont to file a registration statement within 60 days of the execution date to register the resale of the maximum number of ordinary shares underlying the Purchase Agreement.
Aug 26, 2025, 12:00 AM
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