Company: NCL
Filing Date: 2025-01-29
Form Type: S-1/A
Source: 0001575872-25-000097
Chunk: 60

Company: Northann Corp.
Filing Date: 2025-01-29
Form: S-1/A
Chunk 60
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 likely 
 preventing acquisitions that have not been approved by our board of directors.                                                         |

The existence of the forgoing
provisions and anti-takeover measures could limit the price that investors might be willing to pay in the future for shares of our common
stock. They could also deter potential acquirers of our company, thereby reducing the likelihood that you could receive a premium for
your common stock in an acquisition.

In addition, our Articles of Incorporation and Bylaws
may discourage, delay, or prevent a change in our management or control over us that stockholders may consider favorable. Our Articles
of Incorporation and our Bylaws (i) provide that vacancies on our Board, including newly created directorships, may be filled by a majority
vote of directors then in office, and (ii) provide that the Board shall have the sole power to amend, modify or repeal the Bylaws.

We indemnify our officers and directors against liability to us and our security holders, and such indemnification could increase our operating costs.

Our articles of incorporation and bylaws require us
to indemnify our officers and directors against claims associated with carrying out the duties of their offices. We are also required
to advance the costs of certain legal defenses upon the indemnitee undertaking to repay such expenses to the extent it is determined that
such person was not entitled to indemnification of such expenses. Insofar as indemnification for liabilities arising under the Securities
Act may be permitted to our officers, directors, or control persons, the SEC has advised that such indemnification is against public
policy and is therefore unenforceable.

We cannot predict the impact our multi-class structure may have on the stock price of our common stock.

We cannot predict whether our multi-class structure will
result in a lower or more volatile market price of our common stock or in adverse publicity or other adverse consequences. For example,
certain index providers have policies that restrict or prohibit the inclusion of companies with multiple-class share structures in certain
of their indices, including the Russell 2000 and the S&P 500, S&P MidCap 400 and S&P SmallCap 600, which together make up
the S&P Composite 1500. Beginning in 2017, MSCI, a leading stock index provider, opened public consultations on their treatment of no-vote and
multi-class structures and temporarily barred new multi-class listings from certain of its indices. However, in October 2018, MSCI announced
its decision to include equity securities “with