InterCure Moves To Regain Nasdaq Compliance With 1-for-5 Reverse Share Split
(RTTNews) - InterCure Ltd. (INCR), operating as Canndoc, announced a 1-for-5 reverse share split of its ordinary shares, aimed at increasing the company's per-share trading price and regaining compliance with Nasdaq's $1.00 minimum bid price requirement for continued listing on the Nasdaq Global Market.
The reverse share split was approved by InterCure shareholders at an Extraordinary General Meeting held on August 11, 2026.
The company's ordinary shares will continue trading under the existing INCR ticker and will begin trading on a split-adjusted basis when the market opens on August 24, 2026.
The reverse split will reduce the number of issued and outstanding ordinary shares from approximately 59.2 million to 11.8 million, subject to adjustments for fractional shares.
InterCure said the reverse share split will affect all shareholders uniformly and will not change any shareholder's percentage ownership of the company, except for minor adjustments related to fractional shares.
The company's authorized share capital will also be adjusted from 100 million ordinary shares to 20 million ordinary shares under its existing Articles.
No fractional shares will be issued as a result of the reverse split. Fractional shares will instead be rounded down to the nearest whole ordinary share.
Proportional adjustments will also be made to ordinary shares underlying outstanding options, warrants, restricted shares and restricted share units, as well as shares available under the company's share incentive plans and certain existing agreements. Nasdaq Compliance:
InterCure said its current compliance period for Nasdaq's minimum bid price requirement will extend beyond the company's August 24, 2026 deadline.
As a result, the company expects to receive a Staff Delisting Determination from Nasdaq and intends to timely appeal any such determination.
InterCure expects its ordinary shares to continue trading on Nasdaq during the appeal process while it works to demonstrate compliance with the exchange's minimum bid price requirement.
Shareholder Impact:
The reverse share split is intended primarily to increase the market price per share rather than change shareholders' proportional ownership interests.
Shareholders holding shares in brokerage accounts or in book-entry form will not be required to take action following the reverse split. Shareholders holding physical share certificates will receive instructions from Equiniti Trust Company, LLC regarding the exchange of their certificates.
Company Overview:
InterCure, operating as Canndoc, is a vertically integrated medical cannabis company with operations focused on Israel and international regulated markets.
Canndoc is a wholly owned subsidiary of InterCure and is described by the company as Israel's largest licensed cannabis producer and one of the country's first providers of GMP-certified, pharmaceutical-grade medical cannabis products.
INCR has traded between $0.68 and $1.71 over the past year. Currently, INCR is trading at $0.92, down 3.13%.
