Company: NCL
Filing Date: 2025-11-14
Form Type: 424B3
Source: 0001575872-25-000688
Chunk: 16

Company: Northann Corp.
Filing Date: 2025-11-14
Form: 424B3
Chunk 16
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 under the Lease Agreement). The Landlord and Company
acknowledges that each other party is not in default of the Lease Agreement, and that there are no conditions that, with the passage of
time or giving of notice, would be deemed to be a default on the part of either the Company or the Landlord. The Landlord also acknowledges
and agrees that 3D Printing Dev, LLC, a wholly owned subsidiary of the Company, subject to a separate assignment and assumption agreement,
assumes the Lease Agreement starting from the execution of the Amendment.

In December, the Company moved its headquarters
from California to 2251 Catawba River Rd, Fort Lawn, SC 29714.

On January 21, 2025, D PRINTING DEV, LLC, a Delaware
limited liability company (“3D PRINTING”) and an indirect fully-owned subsidiary of Northann Corp. (the “Company”),
entered into an EB-5 loan agreement (the “Loan Agreement”) with 3DFLOR OPPORTUNITY, LP, a Delaware limited partnership and
a related party controlled by the Company’s CEO, Chairman and controlling shareholder, Lin Li (“3DFLOR”), pursuant to
which 3DFLOR agreed to provide 3D PRINTING a loan, with an initial maximum principal amount of $24,000,000 at an interest rate of 1.00%
per year. The loan shall be secured by a pledge of all 49 million Class A Units of 3D PRINTING, and a promissory note. Subject to certain
conditions as set out under the Loan Agreement being fulfilled, 3DFLOR would make an initial advance to 3D PRINTING. The amount of such
initial advance would be as requested by 3D PRINTING. Subsequently, subject to certain restrictions, requests for further advances may
also be made from time to time by 3D PRINTING. The closing date of the Loan Agreement shall be the date on which the initial advance is
received by 3D PRINTING, and the maturity date of the loan under the Loan Agreement is the third anniversary of the closing date, unless
such maturity is extended pursuant to Section 2.04 or accelerated as a result of Section 6.02(a). 3D PRINTING intends to use such funds
to finance the development and expansion of a 3D printing manufacturing facility located at 2251 Catawba River Road, Fort Lawn, South
Carolina.

In