Company: NCL
Filing Date: 2025-09-25
Form Type: 8-K
Source: 0001575872-25-000594
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Company: Northann Corp.
Filing Date: 2025-09-25
Form: 8-K
Item: Item 8.01
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Item 8.01.      Other Events.  

As previously reported on the Current Report on Form 8-K filed on January 2, 2025, the stockholders of Northann Corp. (the “ Company”) at the annual general meeting of stockholders held on December 31, 2024 (the “ AGM”), granted discretionary authority to the Board of Directors of the Company (the “ Board”) to authorize a reverse stock split of the Company’s common stock, par value $0.001 per share (the “ Common Stock”), with a ratio ranging from one-for-three (1:3) to one-for-twenty (1:20), for the primary purpose of increasing the per share price of the Company’s Common Stock in order to maintain the listing of the Company’s Common Stock on the NYSE American.

On September 17, 2025, Lin Li, the sole stockholder of series A preferred stock, par value $0.001 per share (the “ Preferred Stock”) and the Company's CEO and chairman, authorized the Board to conduct the reverse stock split of Preferred Stock at a specific ratio, ranging from one-for-three (1:3) to one-for-twenty (1:20). On September 17, 2025, the Board approved to conduct a reverse stock split (the “ Reverse Stock Split”) of both Common Stock and Preferred Stock at a ratio of one-for-eight (1:8). The post-split Common Stock will have CUSIP Number 66373M 408.

The Reverse Stock Split is expected to take effect on October 7, 2025, pursuant to which, every eight (8) shares of the Company’s issued and outstanding Common Stock will be converted into one (1) share of issued and outstanding Common Stock and every eight (8) shares of the Company’s issued and outstanding Preferred Stock will be converted into one (1) share of Preferred Stock. The Reverse Stock Split will be effected simultaneously for all of the Company’s outstanding Common Stock and Preferred Stock, and the exchange ratio will be the same for all of the Company’s outstanding Common Stock and Preferred Stock. The Reverse Stock Split will affect all of the Company’s stockholders uniformly and will not affect any stockholder’s percentage ownership interests in the Company, except to the extent that the Reverse Stock Split results in any of the Company’s stockholders owning a fractional share. Each stockholder will receive such additional fractions of a share to round up to a full share. The Reverse Stock Split will have