Company: NCL
Filing Date: 2025-12-04
Form Type: DEF 14A
Source: 0001575872-25-000744
Chunk: 42

Company: Northann Corp.
Filing Date: 2025-12-04
Form: DEF 14A
Chunk 42
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 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 addresses stockholders
who hold common stock as capital assets. It does not purport to be complete and does not address stockholders subject to special tax
treatment under the Code, including, without limitation, financial institutions, tax-exempt organizations, insurance companies, dealers
in securities, foreign stockholders, stockholders who hold their pre-reverse stock split shares as part of a straddle, hedge or conversion
transaction, and stockholders who acquired their pre-reverse stock split shares pursuant to the exercise of employee stock options or
otherwise as compensation. If a partnership (or other entity treated as a partnership for U.S. federal income tax purposes) is the beneficial
owner of our common stock, the U.S. federal income tax treatment of a partner in the partnership will generally depend on the status
of the partner and the activities of the partnership. Accordingly, partnerships (and other entities treated as partnerships for U.S.
federal income tax purpose) holding our common stock and the partners in such entities should consult their own tax advisors regarding
the U.S. federal income tax consequences of the proposed Reverse Split to them. In addition, the following discussion does not address
the tax consequences of the Reverse Split under state, local and foreign tax laws. Furthermore, the following discussion does not address
any tax consequences of transactions effectuated before, after or at the same time as the Reverse Split, whether or not they are in connection
with the Reverse Split.

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In general, the