NEW YORK and HERTZLIYA, Israel — InterCure Ltd. will effect a one-for-five reverse split of the company’s ordinary shares, no par value per share. The ordinary shares will continue to trade on the Nasdaq Global Market under the existing symbol INCR and will begin trading on a split-adjusted basis when the market opens on August 24, 2026. The new CUSIP number for the ordinary shares following the consolidation will be M549GJ368.
The primary purpose of the consolidation is to increase the per-share trading price of the ordinary shares to regain compliance with the $1 minimum bid price requirement for continued listing on the Nasdaq Global Market. Because the requisite compliance period will extend beyond the company’s current August 24, 2026, deadline, the company expects to receive a Staff Delisting Determination from Nasdaq and intends to timely appeal any such determination. The company expects its ordinary shares to continue trading on Nasdaq during the appeal process while it seeks to demonstrate compliance.
The reverse share split was approved by the company’s shareholders at an Extraordinary General Meeting on August 11.
The consolidation will result in an adjustment to the authorized share capital of the company under the company’s articles of association, as currently in effect, from 100,000,000 ordinary shares to 20,000,000 ordinary shares.
The consolidation will affect all shareholders uniformly and will not alter any shareholder’s percentage ownership interest in the company’s equity, except for minor changes to the treatment of fractional shares. The consolidation will adjust the number of issued and outstanding ordinary shares from 59,228,556 to approximately 11,845,711 (subject to any further adjustments based on the treatment of fractional shares).
In accordance with the company’s articles, no fractional shares will be issued as a result of the reverse share split. The board of directors approved that all fractional shares shall be rounded down to the nearest whole share. Proportional adjustments also will be made to ordinary shares underlying outstanding options and warrants (and the exercise price shall be adjusted pursuant to the terms of the respective warrants), restricted shares, restricted share units, and to the number of ordinary shares issued and issuable under the company’s share incentive plans and certain existing agreements.
