Company: NCL
Filing Date: 2025-01-29
Form Type: S-1/A
Source: 0001575872-25-000097
Chunk: 30

Company: Northann Corp.
Filing Date: 2025-01-29
Form: S-1/A
Chunk 30
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 Company Guide. As a controlled company, we are permitted to elect to rely on certain exemptions from the obligations to comply with certain corporate governance requirements, including:

| ● | the requirement that a majority of our board of directors must be independent directors; |

| ● | the requirement that our director nominees must be selected or recommended to the Board for determination, by either a Nomination Committee comprised solely of independent directors or by a majority of the independent directors; |

| ● | the requirement that we have a formal written charter or board resolution, as applicable, addressing the nominations process and such related matters as may be required under the federal securities laws; and |

| ● | the requirement that compensation of the chief executive officer must be determined, or recommended to the Board for determination, either by a Compensation Committee comprised of independent directors or by a majority of the independent directors on its Board of Directors and that compensation for all other officers must be determined, or recommended to the Board for determination, either by such Compensation Committee or a majority of the independent directors on the company’s Board of Directors. |

Although we do not currently rely on the controlled company exemptions under the NYSE American Company Guide, we could elect to rely on these exemptions in the future, and if so, you would not have the same protection afforded to stockholders of companies that are subject to all of the corporate governance requirements of NYSE American Company Guide.

| 12 |

| THE OFFERING                                    |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| Securities offered by the selling stockholders: |     | Up to 30,084,400 shares of common stock, consisting of (i) up to 4,484,400 shares of common stock issued pursuant to the Cedar SPA; (ii) up to 4,500,000 shares of common stock issued pursuant to the Raleigh SPA; (iii) up to 3,000,000 shares of common stock issued pursuant to the Linkun Investment Consulting Agreement; (iv) up to 4,500,000 shares of common stock issued pursuant to the CAKL Consulting Agreement; (v) up to 4,600,000 shares of common stock issued pursuant to the San River Consulting Agreement; and (vi) up to 9,000,000 shares of common stock issued pursuant to the Caitlin SPA. |
| Terms of the Offering:                          |     | The selling stockholders will sell the Registered Shares covered under                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
 this prospectus at the prevailing market prices or privately negotiated prices. See “Plan of