Company: NCL
Filing Date: 2025-11-25
Form Type: 424B3
Source: 0001575872-25-000725
Chunk: 3

Company: Northann Corp.
Filing Date: 2025-11-25
Form: 424B3
Chunk 3
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, Asia Resource
agreed to develop and provide to the Company the NCL Customized Intelligent Decoration Platform, a customized software, including all
intellectual property rights therein (the “Platform”).

As the consideration for the Platform, the Company
agreed to pay $6,000,000, by issuing a total of 15,000,000 shares of the Company’s Common Stock (the “Asia Resource Shares”),
i.e. $0.40 per share, in two separate tranches of 8,000,000 shares and 7,000,000 shares, respectively, to a designee to be designated
by Asia Resource.

The first tranche of the Asia Resource Shares (i.e.,
8,000,000 shares) shall be delivered by the Company within five business days after both of the Company’s stockholders and NYSE
American approve the issuance of the Asia Resource Shares. Asia Resource should deliver the Platform within three business days after
certain conditions set forth in the Development Agreement are satisfied, including but not limited to the issuance of the first tranche
of the Asia Resource Shares. The second tranche of the Asia Resource Shares (i.e., 7,000,000 shares) shall be delivered by the Company
within five business days after delivery of the Platform. Asia Resource represented and warranted, amongst others, that neither Asia Resource
nor its designee is an affiliate of the Company, and that the Asia Resource Shares are being acquired for investment purposes only, without
a view to distribution, and in compliance with all applicable securities laws.

The Asia Resource Shares shall be issued pursuant
to the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended. The Asia Resource Shares shall
constitute restricted securities and will bear a restrictive legend as set out under the Development Agreement.

The foregoing description of the Development Agreement
does not purport to be complete, and is qualified in its entirety by reference to the Development Agreement, filed as Exhibit 10.2 to
this Current Report on Form 8-K.

| 2 |

Item 3.02. Unregistered Sales of Equity Securities.

The disclosures contained in Item 1.01 of this Current
Report on Form 8-K is incorporated by reference in this Item 3.02.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

| 10.1 
 10.2 |     | Asset Purchase Agreement by and between the