Company: NCL
Filing Date: 2025-01-29
Form Type: S-1/A
Source: 0001575872-25-000097
Chunk: 67

Company: Northann Corp.
Filing Date: 2025-01-29
Form: S-1/A
Chunk 67
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 Company entered into a securities
purchase agreement with Caitlin Xu Kang as the lead investor and other passive investors (the “Caitlin SPA”), pursuant to
which the Company agreed to sell common stock to these investors (the “Caitlin Purchasers”) in a private placement transaction
(the “Caitlin Private Placement”). Pursuant to the Caitlin SPA, the Company agreed to transfer, assign, set over and deliver
to the Caitlin Purchasers and the Caitlin Purchasers agreed, severally and not jointly, to acquire from the Company in the aggregate 9,000,000
shares of common stock at $0.15 per share, with the total consideration of $1,350,000. The transaction was closed on December 20, 2024.

All of the shares above were offered and sold
in a transaction not involving a public offering and in compliance with exemptions from registration afforded by Section 4(a)(2) of the
Securities Act of 1933, as amended, and/or Rule 506 of Regulation D promulgated thereunder.

Our registration of the Registered Shares covered
by this prospectus does not mean that the Selling Stockholders will offer or sell any of the Registered Shares if or when exercised. The
Selling Stockholders may offer, sell or distribute all or a portion of their Registered Shares publicly or through private transactions
at prevailing market prices or at negotiated prices. We provide more information about how the Selling Stockholders may sell the Registered
Shares in the section titled “Plan of Distribution.”

<div align='center'>USE OF PROCEEDS</div>

This prospectus relates to the Registered Shares of the selling stockholders
that may be offered and sold from time to time by the selling stockholders. We will not receive any proceeds from the resale of the Registered
Shares by the selling stockholders.

The selling stockholders will pay any underwriting discounts and commissions
and expenses incurred by the selling stockholders for brokerage, accounting, tax or legal services or any other expenses incurred by the
selling stockholders in disposing of the Registered Shares. We will bear all other costs, fees, and expenses incurred in effecting the
registration of the Registered Shares covered by this prospectus, including, without limitation, all registration and filing fees, and
fees and expenses of our counsel and our accountants.

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<div align='center'>CORPORATE HISTORY AND STRUCTURE</div>

We commenced operations in August 2013
with the establishment of N