Company: NCL
Filing Date: 2025-12-04
Form Type: 424B3
Source: 0001575872-25-000746
Chunk: 42

Company: Northann Corp.
Filing Date: 2025-12-04
Form: 424B3
Chunk 42
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agent will act as “exchange agent” for the purpose of implementing the exchange of stock certificates. Holders of pre-Reverse
Split shares will be asked to surrender to the exchange agent certificates representing pre-Reverse Split shares in exchange for post-Reverse
Split shares in accordance with the procedures to be set forth in the letter of transmittal. Until surrender, each certificate representing
shares before the Reverse Split would continue to be valid and would represent the adjusted number of whole shares based on the approved
exchange ratio of the Reverse Split selected by the Board. No new post-Reverse Split share certificates will be issued to a stockholder
until such stockholder has surrendered such stockholder’s outstanding certificate(s) together with the properly completed and executed
letter of transmittal to the exchange agent.

In connection with the Reverse
Split, the CUSIP number for the common stock will change from its current CUSIP number. This new CUSIP number will appear on any new
stock certificates issued representing post-split shares.

STOCKHOLDERS SHOULD NOT DESTROY ANY PRE-SPLIT STOCK CERTIFICATE AND SHOULD NOT SUBMIT ANY CERTIFICATES UNTIL THEY ARE REQUESTED TO DO SO.

Accounting Consequences

The par value per share of
common stock would remain unchanged at $0.001 per share after the Reverse Split. As a result, on the effective date of the Reverse Split,
the stated capital on our balance sheet attributable to the common stock will be reduced proportionally, based on the Approved Split
Ratio selected by the Board, from its present amount, and the additional paid-in capital account shall be credited with the amount by
which the stated capital is reduced. The per share common stock net income or loss and net book value will be increased because there
will be fewer shares of common stock outstanding. The shares of common stock held in treasury, if any, will also be reduced proportionately
based on the Approved Split Ratio selected by the Board. Retroactive restatement will be given to all share numbers in the financial
statements, and accordingly all amounts including per share amounts will be shown on a post-split basis. We do not anticipate that any
other 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