Company: NCL
Filing Date: 2025-01-29
Form Type: S-1/A
Source: 0001575872-25-000097
Chunk: 3

Company: Northann Corp.
Filing Date: 2025-01-29
Form: S-1/A
Chunk 3
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 the selling stockholders will offer or sell any of the shares. The selling stockholders
named in this prospectus, or their donees, pledgees, transferees or other successors-in-interest, may resell the common stock covered
by this prospectus through public or private transactions at prevailing market prices, at prices related to prevailing market prices or
at privately negotiated prices. For additional information on the possible methods of sale that may be used by the selling stockholders,
you should refer to the section of this prospectus entitled “Plan of Distribution.”

Any common stock subject to resale hereunder will
have been issued by us and acquired by the selling stockholders prior to any resale of such shares pursuant to this prospectus.

No underwriter or other person has been engaged to
facilitate the sale of the shares in this offering. The selling stockholders will bear all commissions and discounts, if any, attributable
to its sales of the shares of common stock offered hereby. We will incur costs and expenses in connection with the registration of the
shares of our common stock offered hereby, including filing, legal and accounting fees.

Our common stock is listed on The New York Stock Exchange
under the symbol “NCL.” The last reported sale price of our common stock on The New York Stock Exchange on January 13, 2025,
was $0. 2781 per share.

Unless otherwise indicated, all information in this
prospectus reflects a 2-for-1 reverse split of our issued and outstanding shares of common stock and Series A Preferred Stock, effected
on July 5, 2023.

Our founder, Lin Li, beneficially owns 14,430,000
shares of common stock and 5,000,000 shares of Series A Preferred Stock, representing 61.1% of the total voting power of our issued and
outstanding share capital. As such, we are deemed a “controlled company” under NYSE American Company Guide Section 801(a).
However, we do not intend to avail ourselves of the corporate governance exemptions afforded to a “controlled company” under
the NYSE American Company Guide. See “Prospectus Summary — Implications of Being a Controlled Company” on page 12.

The Company qualifies as an “emerging growth
company” and “smaller reporting company” and is subject to reduced public company reporting requirements. See “Prospectus
Summary—Implications of Being an Emerging Growth Company” and “Prospectus Summary—Implications of Being