Company: NCL
Filing Date: 2025-10-24
Form Type: S-1/A
Source: 0001575872-25-000638
Chunk: 70

Company: Northann Corp.
Filing Date: 2025-10-24
Form: S-1/A
Chunk 70
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 The rights of the shares of that series in the event of voluntary or involuntary liquidation, dissolution or winding up of the corporation, and the relative rights of priority, if any, of payment of shares of that series; and |

| 8. | Any other relative rights, preferences and limitations of that series. |

| 33 |

On March 23, 2022, the Company filed a
Certificate of Designation to our Articles of Incorporation with the Secretary of State of the State of Nevada to reflect the
creation of Blank Check Preferred Stock. As a result, as of the date of this prospectus the capital stock of the Company consists of
400,000,000 shares of common stock, US$0.001 par value, and 100,000,000 shares of blank check preferred stock of which 20,000,000
shares were designated to be series A preferred stock, par value $0.001 per share (“Series A Preferred Stock”).

In March 2022, Northann was incorporated in Nevada as part of the restructuring
transactions in contemplation of its initial public offering. In connection with its incorporation, in April 2022, the Company completed
a share swap transaction and issued common stock and 10,000,000 shares of Series A Preferred Stock to the then existing stockholders of
NBS, based on their then respective equity interests held in NBS. On July 5, 2023, as approved by the board of directors and the majority
shareholder of the Company, the Company effected a reverse split of our outstanding common stock and Series A Preferred Stock at a ratio
of 2-for-1. As a result, 5,000,000 shares of Series A Preferred Stock were issued and outstanding. The Company issued 5,000,000 shares
of Series A Preferred Stock to Lin Li, the Company’s Chairman of the Board, Chief Executive Officer, President, Secretary, and Treasurer,
for a consideration of $5,000, effective June 22, 2024. On November 7, 2024, as approved by the board of directors of the Company and
as agreed by Lin Li, the Company rescinded these 5,000,000 shares of Series A Preferred Stock, effective as of June 22, 2024. As a result,
the number of shares of Series A Preferred Stock owned by Lin Li decreased from 10,000,000 to 5,000,000, representing all issued and outstanding