Company: NCL
Filing Date: 2025-11-24
Form Type: PRE 14A
Source: 0001575872-25-000718
Chunk: 53

Company: Northann Corp.
Filing Date: 2025-11-24
Form: PRE 14A
Chunk 53
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 shares of common stock under the
Development Agreement in order to satisfy the requirements of NYSE American Rule 713(a).

Effect on Current Stockholders; Dilution

The Development Agreement does
not affect the rights of the holders of outstanding common stock, but the issuance of shares to pursuant to the terms of the Development
Agreement will have a dilutive effect on our existing stockholders, including the voting power and the economic rights of the existing
stockholders.

The availability for sale of
a large amount of shares issuable under the Development Agreement may significantly depress the market price of our common stock
and, going forward, may impair our ability to raise additional capital through the public sale of our common stock. We do not have
any arrangement with the parties to the Development Agreement to address the possible effect on the price of our common stock of the
sale by such parties of the Development Agreement of their shares.

No Dissenters Rights

Our stockholders are not entitled
to dissenters’ rights with respect to this Proposal 6, and we will not independently provide stockholders with any such right.

Effect of Failure to Obtain Stockholder Approval

If the stockholders do not approve
this Proposal 6 at the Annual Meeting, the Company may hold another stockholder meeting to seek approval.

Required Vote of Stockholders

The affirmative vote of the holders
of a majority of the votes cast is required to approve Proposal 6. Abstentions will have no effect on the outcome of Proposal 6 and broker
non-votes will not be counted as votes cast and, accordingly, will not have an effect on Proposal 6. This Proposal 6 will be considered
“non-routine” by the NYSE American and, because brokers will not have discretionary authority to vote on Proposal 6, we expect
broker non-votes in connection with this proposal.

Recommendation of the Board of Directors

OUR BOARD unanimously recommends a vote “ FOR” THE ISSUANCE OF 15,000,000 SHARES OF COMMON STOCK TO DESIGNEE of ASIA RESOURCE HOLDINGS LIMITED INCONNECTION WITH THE DEVELOPMENT Agreement.

| 29 |

<div align='center'>PROPOSAL SEVEN

APPROVAL OF THE ADJOURNMENT</div>

The Adjournment Proposal,
if adopted, will allow the Board to adjourn the Annual Meeting to a later date or dates to permit further solicitation of proxies.

In this proposal, we are
asking our stockholders to authorize the holder of any proxy solicited to