Company: NCL
Filing Date: 2025-09-26
Form Type: S-1
Source: 0001575872-25-000602
Chunk: 32

Company: Northann Corp.
Filing Date: 2025-09-26
Form: S-1
Chunk 32
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 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 120,000,000 shares of common stock, consisting of (i) up to 40,000,000 shares of Common Stock issued to certain investors pursuant to the Oneflow SPA on March 31, 2025, and (ii) up to 80,000,000 shares of Common Stock issued to certain investors on September 3, 2025, pursuant to the X29 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 Distribution” on page 41 of this prospectus.                                                                                               |
| Selling Stockholders:                           |     | The Selling Stockholders will receive all of the proceeds from the sale of Registered Shares for sale by them under this prospectus. We will not receive proceeds from the sale of the Registered Shares covered under this prospectus by the Selling Stockholders.                                            |
| Use of Proceeds:                                |     | All shares of common stock offered by this prospectus are being registered for the account of the Selling Stockholder and we will not receive any proceeds from the sale of these shares. See “Use of Proceeds” on page 31 of this prospectus.                                                                 |
| Risk Factors:                                   |     | Investing in these securities involves a high degree of risk. As an investor, you should be able to bear a complete loss of your investment. You should carefully consider the information set forth