Company: NCL
Filing Date: 2025-11-24
Form Type: PRE 14A
Source: 0001575872-25-000718
Chunk: 41

Company: Northann Corp.
Filing Date: 2025-11-24
Form: PRE 14A
Chunk 41
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 certificate(s) together with the properly completed and executed
letter of transmittal to the exchange agent.

In connection with the Reverse
Split, the CUSIP number for the common stock will change from its current CUSIP number. This new CUSIP number will appear on any new
stock certificates issued representing post-split shares.

STOCKHOLDERS SHOULD NOT DESTROY ANY PRE-SPLIT STOCK CERTIFICATE AND SHOULD NOT SUBMIT ANY CERTIFICATES UNTIL THEY ARE REQUESTED TO DO SO.

Accounting Consequences

The par value per share of
common stock would remain unchanged at $0.001 per share after the Reverse Split. As a result, on the effective date of the Reverse Split,
the stated capital on our balance sheet attributable to the common stock will be reduced proportionally, based on the Approved Split
Ratio selected by the Board, from its present amount, and the additional paid-in capital account shall be credited with the amount by
which the stated capital is reduced. The per share common stock net income or loss and net book value will be increased because there
will be fewer shares of common stock outstanding. The shares of common stock held in treasury, if any, will also be reduced proportionately
based on the Approved Split Ratio selected by the Board. Retroactive restatement will be given to all share numbers in the financial
statements, and accordingly all amounts including per share amounts will be shown on a post-split basis. We do not anticipate that any
other accounting consequences would arise as a result of the Reverse Split.

No Appraisal Rights

Our stockholders are not
entitled to dissenters’ or appraisal rights under the NRS with respect to this Proposal 3, and we will not independently provide
our stockholders with any such right if the Reverse Split is implemented.

Material Federal U.S. Income Tax Consequences of the Reverse Split

The following is a summary
of certain material U.S. federal income tax consequences of a Reverse Split to our stockholders. The summary is based on the Internal
Revenue Code of 1986, as amended (the “Code”), applicable Treasury Regulations promulgated thereunder, judicial authority
and current administrative rulings and practices as in effect on the date of this Proxy Statement. Changes to the laws could alter the
tax consequences described below, possibly with retroactive effect. We have not sought and will not seek an opinion of counsel or a ruling
from the Internal Revenue Service regarding the federal income tax consequences of a Reverse Split. This discussion only