Company: NCL
Filing Date: 2025-10-24
Form Type: S-1/A
Source: 0001575872-25-000638
Chunk: 72

Company: Northann Corp.
Filing Date: 2025-10-24
Form: S-1/A
Chunk 72
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2024 granted discretionary authority to the Board to authorize a reverse stock split of the
Company’s common stock with a ratio ranging from one-for-three (1:3) to one-for-twenty (1:20), for the primary purpose of increasing
the per share price of the Company’s common stock in order to maintain the listing of the Company’s common stock on the NYSE
American.

On September 17, 2025, Lin Li, the sole stockholder
of the Series A Preferred Stock and the Company's CEO and chairman, authorized the Board to conduct the reverse stock split of Series
A Preferred Stock at a specific ratio, ranging from one-for-three (1:3) to one-for-twenty (1:20). On September 17, 2025, the Board approved
to conduct a reverse stock split (the “Reverse Stock Split”) of both common stock and Series A Preferred Stock at a ratio
of one-for-eight (1:8).

As a result of the Reverse Stock Split, every eight
(8) shares of the Company’s issued and outstanding common stock have been converted into one (1) share of issued and outstanding
common stock and every eight (8) shares of the Company’s issued and outstanding Preferred Stock have been converted into one (1)
share of Preferred Stock. The Reverse Stock Split affects all of the Company’s stockholders uniformly and does not affect any stockholder’s
percentage ownership interests in the Company, except to the extent that the Reverse Stock Split results in any of the Company’s
stockholders owning a fractional share. Each stockholder will receive such additional fractions of a share to round up to a full share.
The Reverse Stock Split has no impact on stockholders’ proportionate equity interests or voting rights in the Company or the par
value of the Company’s common stock and Preferred Stock, which remains unchanged.

The Company’s common stock began trading on
a split-adjusted basis on the NYSE American at the commencement of trading on October 8, 2025 under the Company’s existing symbol
“NCL.” The Company’s common stock has been assigned a new CUSIP number of 66373M 408 in connection with the Reverse
Stock Split.

The Company has amended its Articles of Incorporation,
as amended, and Certificate of Designation of Series A Preferred Stock, as amended, to reflect the Reverse Stock Split. The number of
authorized shares will remain unchanged.

Listing of Common Stock

We listed our common stock on the NYSE