Icon Energy Corp. ( (ICON) ) has shared an update.
Icon Energy Corp. announced a 1-for-40 reverse stock split of its common shares, effective April 1, 2025, to maintain compliance with Nasdaq listing requirements. The decision follows a period where the company’s stock price fell below $1.00, risking delisting. The reverse stock split aims to increase the market price of the shares and ensure continued Nasdaq listing, without affecting shareholders’ ownership percentages or the company’s market capitalization.
More about Icon Energy Corp.
Icon Energy Corp. is an international shipping company that provides worldwide seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels. The company is headquartered in Athens, Greece, and its common shares trade on the Nasdaq Capital Market under the symbol ‘ICON.’
YTD Price Performance: -97.89%
Average Trading Volume: 13,084,055
Technical Sentiment Signal: Strong Buy
See more insights into ICON stock on TipRanks’ Stock Analysis page.