InterCure Ltd. (NASDAQ: INCR) received a written notice from Nasdaq on February 25, 2026, stating the company was not in compliance with Nasdaq Listing Rule 5450(a)(2). The notice cited that InterCure’s closing bid price had remained below $1.00 per share for 30 consecutive business days, triggering a minimum bid price deficiency.
The low bid price reflects a combination of market conditions and company‑specific challenges. InterCure’s operations have been impacted by war‑related damages to its Nir Oz facility, for which the company has sought compensation, and by broader investor sentiment that has weighed on the cannabis‑sector valuation. The company’s share price has been trading below $1.00 for an extended period, with a 52‑week high of $1.77 and a low of $0.68 as of March 4, 2026.
Despite the valuation pressure, InterCure’s underlying business has shown resilience. Preliminary 2025 revenue reached NIS 265 million, an 11 % increase over 2024, and the company reported positive Adjusted EBITDA for both halves of 2025, marking its twelfth consecutive half‑year of positive Adjusted EBITDA. These figures demonstrate operational strength even as the market price remains depressed.
CEO Alexander Rabinovich emphasized the company’s disciplined execution, stating in February 2026 that “2025 marked a year of disciplined execution and renewed growth for InterCure. We delivered meaningful acceleration in the second half of the year with nearly 20% revenue growth.” The comment underscores management’s confidence in the company’s growth trajectory.
InterCure is considering a reverse share split as part of its remediation plan. Nasdaq’s Listing Rule 5810(c)(3)(A) grants a 180‑day compliance period ending August 24, 2026, to restore the bid price to at least $1.00 for ten consecutive business days. Nasdaq’s rule changes effective January 19, 2026, have tightened the minimum bid price regime, making timely compliance critical to avoid delisting.
The notice signals a significant regulatory risk that could erode investor confidence and limit the company’s access to capital markets if the bid price target is not met. InterCure has stated that its listing status will remain unchanged during the compliance period and that it remains committed to maintaining Nasdaq’s listing standards while pursuing its business strategy.
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