Company: NCL
Filing Date: 2025-11-14
Form Type: 424B3
Source: 0001575872-25-000688
Chunk: 66

Company: Northann Corp.
Filing Date: 2025-11-14
Form: 424B3
Chunk 66
---
 United
States.

In March 2022, Northann, our current ultimate
holding company, was incorporated in Nevada as part of the restructuring transactions in contemplation of our initial public offering.
In connection with its incorporation, in April 2022, we completed a share swap transaction and issued common stock and Series A Preferred
Stock of Northann to the then existing stockholders of NBS, based on their then respective equity interests held in NBS. NBS then became
our wholly owned subsidiary.

In May 2022, Benchwick LLC was established
in Nevada. Benchwick LLC is a wholly-owned subsidiary that is engaged in the development, manufacturing, and distribution of 3D printing
technology, flooring products, and other related innovations.

On July 5, 2023, we effected a 2-for-1 reverse
split of our issued and outstanding shares of common stock and Series A Preferred Stock.

In October 2023, the Company consummated
the initial public offering of 172,500 shares of common stock (including overallotment to underwriters), par value $0.001 per share, at
an offering price of $40.00 per share.

In September 2024, 3D PRINTING was established
in Nevada. 3D PRINTING is a wholly-owned subsidiary that was established solely for the purposes of the development, establishment, operation,
and financing of a resilient flooring manufacturing facility located at 2251 Catawba River Road, Fort Lawn, South Carolina 29714.

In October 2024, the Company completed
the acquisition of Cedar Modern Limited, and in November 2024, the Company completed the acquisition of Raleigh Industries Limited.

In October 2025, we effected a 8-for-1
reverse split of our issued and outstanding shares of common stock and Series A Preferred Stock.

The following diagram illustrates our current corporate structure.

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<div align='center'>DESCRIPTION OF CAPITAL STOCK</div>

Authorized Stock

The Company is authorized to issue 500,000,000
shares of capital stock, consisting of 400,000,000 shares of common stock, par value US$0.001 per share, and 100,000,000 shares of preferred
stock, par value US$0.001 per share. 20,000,000 shares were designated to be Series A Preferred Stock out of the 100,000,000 shares of
blank check preferred stock. Each share of common stock is entitled to one