Company: NCL
Filing Date: 2025-01-14
Form Type: S-1/A
Source: 0001575872-25-000059
Chunk: 68

Company: Northann Corp.
Filing Date: 2025-01-14
Form: S-1/A
Chunk 68
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or represented by proxy, subject to any voting rights granted to holders of any preferred stock. Holders of our common stock representing
at least one-third our capital stock issued, outstanding and entitled to vote, represented in person or by proxy, are necessary to constitute
a quorum at any meeting of our stockholders. A vote by the holders of a majority of our outstanding shares is required to effectuate certain
fundamental corporate changes such as liquidation, merger or an amendment to our Articles of Incorporation. Our Articles of Incorporation
do not provide for cumulative voting in the election of directors.

Preferred Stock

Our board of directors may authorize preferred
shares of stock and to divide the authorized shares of our preferred stock into one or more series, each of which must be so designated
as to distinguish the shares of each series of preferred stock from the shares of all other series and classes. Our board of directors
is authorized, within any limitations prescribed by law and our Articles of Incorporation, to fix and determine the designations, rights,
qualifications, preferences, limitations and terms of the shares of any series of preferred stock including, but not limited to, the following:

| 1. | The number of shares constituting that series and the distinctive designation of that series, which may be by distinguishing number, letter or title; |

| 2. | The dividend rate on the shares of that series, whether dividends will be cumulative, and if so, from which date(s), and the relative rights of priority, if any, of payment of dividends on shares of that series; |

| 3. | Whether that series will have voting rights, in addition to the voting rights provided by law, and, if so, the terms of such voting rights; |

| 4. | Whether that series will have conversion privileges, and, if so, the terms and conditions of such conversion, including provision for adjustment of the conversion rate in such events as the Board of Directors determines; |

| 5. | Whether or not the shares of that series will be redeemable, and, if so, the terms and conditions of such redemption, including the date or date upon or after which they are redeemable, and the amount per share payable in case of redemption, which amount may vary under different conditions and at different redemption dates; |

| 6. | Whether that series will have a sinking fund for the redemption or purchase of shares of that series, and, if so, the terms and amount of such sinking fund;