Company: NCL
Filing Date: 2025-12-04
Form Type: DEF 14A
Source: 0001575872-25-000744
Chunk: 34

Company: Northann Corp.
Filing Date: 2025-12-04
Form: DEF 14A
Chunk 34
---
 be part of the existing class of common stock and, if and when issued,         
 would have the same rights and privileges as the shares of common stock presently outstanding; and                                        |
| ● | The issuance of authorized but unissued shares                                                                                            
 of common stock could be used to deter a potential takeover of us that may otherwise be beneficial to stockholders by diluting the        
 shares held by a potential suitor or issuing shares to a stockholder that will vote in accordance with the Board’s desires.               
 A takeover may be beneficial to independent stockholders because, among other reasons, a potential suitor may offer such stockholders     
 a premium for their shares of stock compared to the then-existing market price. We do not have any plans or proposals to adopt provisions 
 or enter into agreements that may have material anti-takeover consequences.                                                               |

Our Board does not intend
for this transaction to be the first step in a series of plans or proposals effect a “going private transaction” within the
meaning of Rule 13e-3 of the Exchange Act.

We have no specific plan,
commitment, arrangement, understanding, or agreement, either oral or written, regarding the issuance of common stock subsequent to this
proposed Reverse Split at this time, and we have not allocated any specific portion of the proposed effective increase in the authorized
number of shares to any particular purpose. However, we have in the past conducted certain public and private offerings of common stock
and warrants, and we may continue to require additional capital in the future to fund our operations. As a result, it is foreseeable
that we may seek to issue such additional shares of common stock in connection with any such capital raising activities, or any of the
other activities described above. The Board does not intend to issue any common stock or securities convertible into common stock except
on terms that the Board deems to be in the best interests of us and our stockholders.

Risks of the Proposed Reverse Split

We cannot assure you that the proposed Reverse Split will increase the price of our common stock and have the desired effect of maintaining compliance with the NYSE American.

If the Reverse Split is implemented,
our Board expects that it will increase the market price of our common stock so that we are able to maintain compliance with the NYSE
American continued listing standard. However, the effect of the Reverse Split upon the market price of our common stock cannot be predicted
with any certainty, and we cannot assure you that the Reverse Split will accomplish this objective for any meaningful period of time,