HONG KONG, March 31, 2025 (GLOBE NEWSWIRE) — Intercont (Cayman) Limited (“Intercont” or the “Company”), a global shipping enterprise with plans for seaborne pulping operations, today announced the closing of its public offering (the “Offering”) of 1,500,000 ordinary shares (the “Ordinary Shares”) at a public offering price of $7.00 per share (the “IPO”). The Company received the gross proceeds of $10,500,000 from the Offering, before deducting underwriting discounts and offering expenses. The Ordinary Shares commenced trading on the Nasdaq Capital Market on March 28, 2025 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.
Intercont intends to use the net proceedings 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 was being conducted on a firm commitment basis. Kingswood Capital Partners, LLC (“Kingswood”) acted as the sole book-runner (the “Underwriter”) for the Offering. Jun He Law Offices, LLC acted as U.S. counsel to the Company, and Ortoli Rosenstadt LLP acted as U.S. counsel to the Underwriter, in connection with the Offering.
A registration statement on Form F-1 (File No.333-282394) relating to the Offering, as amended, was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective on March 27, 2025. This offering is being made only by means of a prospectus forming a part of the registration statement relating to the Offering. Copies of the final prospectus related to the Offering may be obtained, from Kingswood Capital Partners, LLC by standard mail to 126 E 56th Street, Suite 22S New York, NY, or by email at info@kingswoodus.com, or by telephone at +1-800-535-6981. In addition, a copy of the prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Intercont (Cayman) Limited
Intercont (Cayman) Limited is a global shipping enterprise with plans for seaborne pulping operations. Under a visionary management team, Intercont is dedicated to providing customers with efficient and environmentally friendly transportation solutions through innovative business models and technology.
For more information, please visit: https://www.intercontcayman.com.
Forward Looking Statement
This press release contains statements of a forward-looking nature. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
At the Underwriter:
Kingswood Capital Partners, LLC
126 E 56th Street, Suite 22S New York, NY
Email: info@kingswoodus.com
Telephone: +1-800-535-6981
Investor Relations:
DragonRider
Email: yuhuiyong@dragonrider.com.cn
Telephone: +86-152-6882-9069
At the Company:
Intercont (Cayman) Limited
investorrelations@intercontcayman.com
+852-3848-1720
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