Company: NCL
Filing Date: 2025-11-25
Form Type: 424B3
Source: 0001575872-25-000725
Chunk: 2

Company: Northann Corp.
Filing Date: 2025-11-25
Form: 424B3
Chunk 2
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 provided pursuant to Section 13(a) of the Exchange Act.

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Item 1.01. Entry into a Material Definitive Agreement.

Asset Purchase Agreement with Kingsford Consultancy Ltd.

On November 23, 2025, the Northann Corp. (the “Company”)
entered into an asset purchase agreement with Kingsford Consultancy Ltd. (“Kingsford”, and such agreement,
the “Asset Purchase Agreement”).

Pursuant to the Asset Purchase Agreement, Kingsford
agreed to provide to the Company certain proprietary software assets relating to a supply chain management system, including all related
intellectual property rights therein (the “Software”), pursuant to the terms of the Asset Purchase Agreement.

As consideration for the Software, the Company agreed
to pay $5,000,000 as the purchase price, by issuing 12,500,000 shares of the Company’s common stock, par value $0.001 per share
(the “Common Stock”) (the “Kingsford Shares”), i.e. $0.40 per share, to a designee to be designated
by Kingsford.

The closing of the Asset Purchase Agreement is required
to occur no later than three business days after all closing conditions are satisfied or waived, or at such other times as the parties
may agree. The closing conditions include but not limited to, the approval of the issuance of the Kingsford Shares by the Company’s
stockholders and the NYSE American. Kingsford represented and warranted, amongst others, that neither Kingsford nor its designee is an
affiliate of the Company, and that the Kingsford Shares are being acquired for investment purposes only, without a view to distribution,
and in compliance with all applicable securities laws.

The Kingsford Shares shall be issued pursuant to the
exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended. The Kingsford Shares shall constitute
restricted securities and will bear a restrictive legend as set out under the Asset Purchase Agreement.

The foregoing description of the Asset Purchase Agreement
does not purport to be complete, and is qualified in its entirety by reference to the Asset Purchase Agreement, filed as Exhibit 10.1
to this Current Report on Form 8-K.

Development Agreement with Asia Resource Holdings Limited

On November 23, 2025, the Company entered into a development agreement
with Asia Resource Holdings Limited (“Asia Resource”, and such agreement, the “Development Agreement”).

Pursuant to the Development Agreement