Icon Energy Corp. Announces Reverse Stock Split

Core Viewpoint - Icon Energy Corp. has announced a 1-for-5 reverse stock split effective January 8, 2026, to enhance its appeal to investors and ensure compliance with Nasdaq listing standards [4][5]. Group 1: Reverse Stock Split Details - The reverse stock split will convert every 5 issued and outstanding common shares into 1 common share without changing the par value or the total number of shares authorized [3]. - Following the split, the number of outstanding common shares will decrease from 3,460,000 to approximately 692,000, adjusted for fractional shares [5]. - No fractional shares will be issued; instead, shareholders entitled to fractional shares will receive a cash payment based on the closing price on January 7, 2026 [6]. Group 2: Impact on Shareholders - The reverse stock split will not affect shareholders' ownership percentages, market capitalization, or voting rights [5]. - Shareholders holding shares in book-entry form or through a broker will see the impact reflected in their accounts without needing to take action [7]. Group 3: Company Background - Icon Energy Corp. is an international shipping company providing worldwide seaborne transportation services for dry bulk cargoes [8].