Intercont (Cayman) Ltd (NCT) Form 424B5 — Oct 23, 2026
Intercont (Cayman) Limited announced a registered direct offering of 15,000,000 Class A Ordinary Shares at US$1.30 per share, expected to raise approximately US$19.5 million gross (US$19.43 million net) with no underwriter or placement agent. The deal was priced off the October 22 closing price of US$1.32. The offering is extraordinarily dilutive: the company had only 1,286,926 Class A shares outstanding, so the new shares represent more than 11x the pre-deal Class A float share count, and total shares outstanding jump from ~3.1 million to ~18.1 million. Unusually, investors pay only up to three months after closing, and the company may be unable to forfeit the shares if investors default.
Key figures
- Gross Proceeds
- 19500000
- Offering Price
- 1.3
- Shares Offered
- 15000000
- Shares Outstanding
- 18,118,524.04 total Ordinary Shares after offering (16,286,926 Class A; 1,831,598.04 Class B)
- Net Proceeds
- US$19.43 million
- Public Float
- US$90,812,732
- Payment Terms
- purchase price due three months after closing
- Closing Price Oct22
- US$1.32
- Pro Forma NTBVPer Share
- 2.74
- Pre Offering Class AShares
- 1286926
- Ceo Voting Power After Offering
- 91.83%
- Reverse Split Cumulative Ratio
- 625-for-1 (two 25-for-1 consolidations in 2026)
- Existing Shareholder NTBVDecrease
- 6.93
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.