24/7 Market News Snapshot 13 March, 2025 – Icon Energy Corp. Common stock (NASDAQ:ICON)

March 13, 2025

DENVER, Colo., 13 March, 2025 (247marketnews.com) – (NASDAQ:ICON) are discussed in this article.
Icon Energy Corp (NASDAQ:ICON) has recently witnessed a notable surge in its stock price, opening at $0.094 and jumping to $0.119, an impressive increase of 27.82%. This surge follows a closing price of $0.093 in the previous session and suggests growing investor confidence, supported by a robust trading volume of 25.63 million shares. Market analysts are optimistic about this upward trajectory, indicating the potential for further gains in the near future.

Simultaneously, Icon Energy has announced critical developments regarding its compliance status with Nasdaq listing standards. Despite the recent surge, the company received a notification on March 7, 2025, indicating that it is currently not in compliance with Listing Rule 5550(a)(2), as its common shares’ closing bid price has fallen below the required $1.00 for 30 consecutive trading days. Nonetheless, Icon remains compliant with all other Nasdaq Capital Market requirements and has been granted a 180-day grace period until September 3, 2025, to rectify this issue. To regain compliance, the company must ensure its shares trade at or above $1.00 for a minimum of 10 consecutive trading days.

In light of these developments, Icon Energy is preparing for its upcoming Annual General Meeting of Shareholders on March 17, 2025. Shareholders have received official notices detailing proposals, including the election of Spiros Vellas as Class I Director and the ratification of Ernst & Young (Hellas) as the company’s independent auditors for the fiscal year ending December 31, 2025. Additionally, there will be a vote on granting the board the authority to approve a reverse stock split if necessary to maintain the Nasdaq listing. Icon Energy is committed to transparency and shareholder interests as it works through these challenges and pursues its strategic goals in the shipping industry.

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