Intercont (Cayman) Limited Announces Pricing of Its Initial Public Offering

HONG KONG, March 27, 2025 (GLOBE NEWSWIRE) -- Intercont (Cayman) Limited (“Intercont” or the “Company”), a global shipping enterprise with plans for seaborne pulping operations, today announced the pricing of its initial public offering (the “Offering”) of 1,500,000 ordinary shares (the “Ordinary Shares”), at a public offering price of $7.00 per share. The Company expects to receive total gross proceeds of $10,500,000 from the Offering, before deducting underwriting discounts and other offering expenses. The Ordinary Shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on March 28, 2025, New York time, under the ticker symbol “NCT”.

In addition, the Company has granted the underwriters an option, within 45 days from the closing of the Offering, to purchase up to an additional 225,000 Ordinary Shares at the initial public offering price, less underwriting discounts, to cover the over-allotment option.

The Offering is expected to close on March 31, 2025, subject to the satisfaction of customary closing conditions.

Intercont intends to use the net proceeds from this offering to, among other things, (i) increase its working capital and financial flexibility to expand its fleet, procure raw materials, fund marketing activities, and other general corporate purposes, (ii) develop onboard pulp manufacturing technologies to improve yields, (iii) engage professionals to promote the maritime environmental, social and governance matters, industrialization process and explore the related commercial opportunities in the market, and (iv) expand the Company’s research and development team, marketing team, and manufacturing team.

The Offering is being conducted on a firm commitment basis. Kingswood Capital Partners, LLC is acting as the sole book-runner (the “Underwriter”) for the Offering. Jun He Law Offices LLC is acting as U.S. securities counsel to the Company, and Ortoli Rosenstadt LLP is acting as U.S. securities counsel to the Representative, in connection with the Offering.

A registration statement on Form F-1 (File No 333-282394) relating to the Offering, as amended, has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on March 27, 2025. The Offering is being made only by means of a prospectus forming a part of the registration statement relating to the Offering. Copies of the prospectus related to the Offering may be obtained, when available, from Kingswood Capital Partners, LLC by standard mail to 126 E 56th Street, Suite 22S New York, NY, or by email at [e-mail], or by telephone at [phone]. In addition, a copy of the prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.