SplitJul 22, 2026, 04:13 PM
Intercure to Vote on 5-to-1 Reverse Share Split to Avoid Delisting
AI Summary
Intercure Ltd. announced an Extraordinary General Meeting of Shareholders to be held on August 12, 2026, to vote on a 5-to-1 reverse share split. The proposed reverse split aims to increase the company's share price to regain compliance with Nasdaq's minimum bid price requirement and avoid potential delisting. The Board of Directors unanimously recommends shareholders approve the proposal, emphasizing its importance for maintaining Nasdaq listing and improving marketability.
Key Highlights
- Shareholders to vote on a 5-to-1 reverse share split at an Extraordinary General Meeting.
- Meeting scheduled for August 12, 2026, at 4:00 p.m. Israel Time.
- Record date for voting is July 29, 2026.
- Purpose of the reverse split is to regain compliance with Nasdaq's minimum $1.00 bid price requirement.
- Board of Directors unanimously recommends voting "FOR" the proposal.
- If not approved, the company's shares will likely be delisted from Nasdaq.
- The reverse split will reduce the number of authorized and outstanding shares by a 5-to-1 ratio.
- Outstanding warrants and equity incentive plans will be adjusted proportionally.
Price Impact
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