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Intercont has successfully completed its Initial Public Offering (IPO) on the Nasdaq Capital Market under ticker symbol NCT. The company raised $10.5 million in gross proceeds through the offering of 1,500,000 ordinary shares priced at $7.00 per share.
The trading commenced on March 28, 2025, with Kingswood Capital Partners acting as the sole book-runner. The company granted underwriters a 45-day option to purchase up to 225,000 additional shares to cover over-allotments.
The net proceeds will be utilized to:
- Expand fleet and increase working capital
- Develop onboard pulp manufacturing technologies
- Promote maritime ESG initiatives
- Strengthen research, marketing, and manufacturing teams
Intercont (Cayman), a global shipping enterprise focused on seaborne pulping operations, has announced the pricing of its Initial Public Offering (IPO) on the Nasdaq Capital Market under ticker symbol NCT.
The company is offering 1,500,000 ordinary shares at $7.00 per share, expecting to raise $10.5 million in gross proceeds. Trading will commence on March 28, 2025, with an additional 225,000 shares available through a 45-day over-allotment option.
The net proceeds will fund:
- Working capital expansion for fleet, raw materials, and marketing
- Development of onboard pulp manufacturing technologies
- Maritime ESG initiatives and industrialization processes
- Expansion of R&D, marketing, and manufacturing teams
Kingswood Capital Partners is serving as the sole book-runner for this firm commitment offering, expected to close on March 31, 2025.
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