Company: NCL
Filing Date: 2025-11-24
Form Type: PRE 14A
Source: 0001575872-25-000718
Chunk: 39

Company: Northann Corp.
Filing Date: 2025-11-24
Form: PRE 14A
Chunk 39
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2023 Plan
will be similarly adjusted.

| 21 |

Effect on Preferred Stock

As of the date of this proxy
statement, we had 100,000,000 authorized shares of preferred stock, among which 625,000 shares of Series A Preferred Stock are issued
and outstanding. The Company plans to conduct a reverse stock split to the Series A Preferred Stock at the same time when it effects
the Reverse Split to its common stock, with the same ratio.

The following table contains the approximate number
of issued and outstanding shares of preferred stock following a 1:3 to 1:20 Reverse Split, as of the date of this proxy statement.

After Each Reverse Split Ratio

|                                                                            |     | Current |             |     | 1:3 |             |     | 1:10 |             |     | 1:20 |             |
| Preferred Stock Authorized (1)                                             |     |         | 100,000,000 |     |     | 100,000,000 |     |      | 100,000,000 |     |      | 100,000,000 |
| Preferred Stock Issued and Outstanding                                     |     |         |     625,000 |     |     |     208,333 |     |      |      62,500 |     |      |      31,250 |
| Number of Shares of Preferred Stock Reserved for Issuance                  |     |         |           0 |     |     |           0 |     |      |           0 |     |      |           0 |
| Number of Shares of Preferred Stock Authorized but Unissued and Unreserved |     |         |  99,375,000 |     |     |  99,791,667 |     |      |  99,937,500 |     |      |  99,968,750 |

| (1) | The Reverse Split will not have any                                                             
 impact in the number of shares of preferred stock we are authorized to issue under our charter. |

Effective Date

If approved by our stockholders
and our Board determines to effect the Reverse Stock Split, the exact timing will be determined at the discretion of our Board and set
forth in a public announcement. On the effective date, shares of common stock issued and outstanding immediately prior thereto will be
combined and converted, automatically and without any action on the part of our stockholders, into new shares of common stock in accordance
with an Approved Split