Strategic Action Aimed at Regaining Compliance with Nasdaq's Minimum Bid Price Requirement and Protecting Continued Listing Status
NEW YORK and HERTZLIYA, ISRAEL, Aug. 19, 2026 (GLOBE NEWSWIRE) -- InterCure Ltd. (the "Company" or "InterCure") (Nasdaq: INCR), today announced that it intends to effect a one-for-five reverse split (the "Reverse Share Split") of the Company's ordinary shares, no par value per share, (the "Ordinary Shares"). 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 Reverse Share Split will be M549GJ368.
The primary purpose of the Reverse Share Split is to increase the per-share trading price of the Company's Ordinary Shares to regain compliance with the $1.00 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 the Company's Extraordinary General Meeting of Shareholders held on August 11, 2026. The Reverse Share Split will result in an adjustment to the authorized share capital of the Company under the Company's articles of association, as currently in effect (the "Articles"), from 100,000,000 Ordinary Shares to 20,000,000 Ordinary Shares.
The Reverse Share Split 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 as described below. The Reverse Share Split will adjust the number of issued and outstanding Ordinary Shares of the Company from 59,228,556 Ordinary Shares to approximately 11,845,711 Ordinary Shares (subject to any further adjustments based on the treatment of fractional shares). In accordance with the Company's Articles, no fractional Ordinary Shares will be issued as a result of the Reverse Share Split. The Company's board of directors approved that all fractional Ordinary Shares shall be rounded down to the nearest whole Ordinary 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.
Equiniti Trust Company, LLC, the Company's transfer agent, will send instructions to shareholders of record who hold share certificates regarding the exchange of certificates for Ordinary Shares. Shareholders who hold their Ordinary Shares in book-entry form or in brokerage accounts or "street name" are not required to take any action to effect the exchange of their Ordinary Shares following the Reverse Share Split.
About InterCure Ltd.
InterCure (dba Canndoc) (Nasdaq: INCR) (TASE: INCR) is the leading, profitable, and one of the fastest growing cannabis companies outside of North America. Canndoc, a wholly owned subsidiary of InterCure, is Israel's largest licensed cannabis producer and one of the first to offer Good Manufacturing Practices (GMP) certified and pharmaceutical-grade medical cannabis products. InterCure leverages its market leading distribution network, best in class international partnerships and a high-margin vertically integrated "seed-to-sale" model to lead the fastest growing cannabis global market outside of North America.
For more information, visit: https://www.intercure.co
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements pursuant to U.S. federal securities laws. Forward-looking statements may include, but are not limited to, statements regarding the implementation of the Reverse Share Split, the effective date for the Reverse Share Split, the date on which trading of the Ordinary Shares will begin on a split-adjusted, any treatment of fractional shares, the expectation of the Company to increase the per-share trading price of its Ordinary Shares, the Company's ability to regain and maintain compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Global Market, and other statements that are not historical facts. These forward-looking statements are often characterized by terminology such as "believes," "hopes," "may," "anticipates," "should," "intends," "plans," "will," "expects," "estimates," "projects," "positioned," "strategy" and similar expressions, and are based on current expectations, assumptions and assessments of the Company's management in light of its experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. These risks and uncertainties include, among others, the Company's ability to meet Nasdaq's continued listing requirements, market conditions, and other factors beyond the Company's control. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" in the Company's most recent Annual Report on Form 20-F and in other filings that the Company has made and may make with the U.S. Securities and Exchange Commission. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact:
InterCure Ltd.
Amos Cohen, Chief Financial Officer
amos@intercure.co
