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

Intercont (Cayman) Limited received a notification letter from Nasdaq stating that the closing bid price of its ordinary shares has been below $1.00 for 30 consecutive business days, failing to meet the minimum bid price requirement. The company has 180 days, until June 15, 2026, to regain compliance. Compliance can be achieved if the bid price is at least $1.00 for 10 consecutive business days within this period. If compliance is not met, the company may be eligible for an extended grace period, provided it meets other continued listing requirements and intends to cure the deficiency, potentially through a reverse stock split. The notification does not immediately affect the trading of the company's shares on Nasdaq under the ticker "NCT".