Company: NCL
Filing Date: 2025-11-14
Form Type: 424B3
Source: 0001575872-25-000688
Chunk: 15

Company: Northann Corp.
Filing Date: 2025-11-14
Form: 424B3
Chunk 15
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 Compensation Committee and Nominating and Governance Committee.
Since May 2012, Mr. Patel has served as a managing partner of DviBri LLC, a California-based consulting company dedicated to managing
all aspects of a client’s transition from a private firm to a publicly-listed company. From 2001 to 2007, Mr. Patel was the president
and CFO of Digital Learning Management Corp. Mr. Patel received his Associate degree in hotel management and catering in 1976, and his
Bachelor of Commerce degree specializing in audits and accounts in 1979, both from Maharaja Sayaji Rao University in Baroda, India.

On May 3, 2024, the Company signed final settlement
agreements with the investors of certain convertible notes and warrants (together, the “Final Settlement Agreements”) to settle
the balances of the convertible notes and warrants for $250,000 for each of the Investors, totaling $500,000, besides an aggregate of
$1,200,000 paid by the Company in 2023.

On May 24, 2024, in accordance with the Final
Settlement Agreements, the Company paid the settlement sum of $250,000 to each investor, and each of the Investors executed a Release
of Security Interests evidencing and effecting the release, relinquishment, and discharge of certain security interests, including
certain UCC financing statements as referenced therein. In light of the above, the Convertible Notes and the Warrants are terminated in
full and rendered null and void.

On July 26, 2024, the Company entered into a lease
agreement (as amended on August 5, 2024, the “Lease Agreement”) with SKY SC LLC (the “Landlord”), with a commencement
date of August 20, 2024 (the “Commencement Date”). On November 19, 2024, the Company entered into a First Amendment of Lease
with the Landlord (the “Amendment”). Under the Amendment, the Commencement Date has been amended from August 20, 2024 to November
1, 2024. Under the Amendment, the Landlord acknowledges that the Company has paid the first full month’s installment of the Base
Rent (as defined in the Lease Agreement), and the Company shall pay the first full month’s estimated cost of the Company’s
pro rata share of Taxes, Insurance, and Common Area Maintenance charges (all as defined