Company: NCL
Filing Date: 2025-12-04
Form Type: 424B3
Source: 0001575872-25-000746
Chunk: 36

Company: Northann Corp.
Filing Date: 2025-12-04
Form: 424B3
Chunk 36
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 of the $1.00 minimum bid price for a sustained period of time, or (iii) the Reverse Split
may not result in a per share price that would attract brokers and investors who do not trade in lower priced stocks. Even if the Reverse
Split is implemented, the market price of our common stock may decrease due to factors unrelated to the Reverse Split. In any case, the
market price of our common stock will be affected by other factors which may be unrelated to the number of shares outstanding, including
our business and financial performance, general market conditions, and prospects for future success. Even if the market price per post-Reverse
Split share of our common stock remains in excess of $1.00 per share, we may be delisted due to a failure to meet other continued listing
requirements, including the NYSE American requirements related to the minimum number of shares that must be in the public float and the
minimum market value of the public float.

| 19 |

The proposed Reverse Split may decrease the liquidity of our common stock.

The Board believes that the
Reverse Split will result in an increase in the market price of our common stock, which could lead to increased interest in our common
stock and possibly promote greater liquidity for our stockholders. However, the Reverse Split will also reduce the total number of outstanding
shares of common stock, which may lead to reduced trading and a smaller number of market makers for our common stock, particularly if
the price per share of our common stock does not increase as a result of the Reverse Split.

The Reverse Split may result in some stockholders owning“odd lots” that may be more difficult to sell or require greater transaction costs per share to sell.

If the Reverse Split is implemented,
it may increase the number of stockholders who own “odd lots” of less than 100 shares of common stock. A purchase or sale
of less than 100 shares of common stock (an “odd lot” transaction) may result in incrementally higher trading costs through
certain brokers, particularly “full service” brokers. Therefore, those stockholders who own fewer than 100 shares of common
stock following the Reverse Split may be required to pay higher transaction costs if they sell their common stock.

The Reverse Split may lead to a decrease in our overall market capitalization.

The Reverse Split may be
viewed negatively by the market and, consequently, could lead to a decrease in our overall market capitalization. If the per share market
price of our common stock does not increase