Company: NCL
Filing Date: 2025-10-24
Form Type: S-1/A
Source: 0001575872-25-000638
Chunk: 90

Company: Northann Corp.
Filing Date: 2025-10-24
Form: S-1/A
Chunk 90
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000 |
| Printing Expenses            |     | $      |   5,000 |
| Miscellaneous Expenses       |     | $      |   1,717 |
| Total Expenses               |     | $      | 210,000 |

Estimated as permitted under Rule 511 of Regulation
S-K.

Item 14. Indemnification of Directors and Officers.

Our Bylaws provide that we will indemnify an officer
or director who is made a party to any proceeding, including a lawsuit, because of his/her position, to the fullest extent permitted by
Nevada law. Our Bylaws also provide that we will advance expenses incurred in defending a proceeding upon receipt of an undertaking by
or on behalf of the indemnitee to repay the amounts advanced if it is ultimately determined by a court of competent jurisdiction that
the officer or director is not entitled to be indemnification.

Insofar as indemnification for liabilities arising
under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have
been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is theretofore
unenforceable.

Item 15. Recent Sales of Unregistered Securities.

The information in this section reflects (i) a 2-for-1
reverse split of our issued and outstanding shares of common stock and Series A Preferred Stock, effected on July 5, 2023, and (ii) an
8-for-1 reverse split of our issued and outstanding shares of common stock and Series A Preferred Stock, effected on October 7, 2025.

Founding Transactions

Northann Corp. was incorporated on March 29, 2022. In
connection with the incorporation, on April 25, 2022, Northann Corp. issued a total of 696,250 shares of common stock to 12 stockholders,
each one of which holds less than 5% of the total issued and outstanding common stock as of the date of this registration statement. The
transaction was not registered under the Securities Act in reliance on an exemption from registration set forth in Section 4(a)(2) and/or
Regulation D and/or Regulation S thereof.

Convertible Debentures and Warrants

On May 12, 2022, the Company entered into a securities
purchase agreement with certain investors, pursuant to which the Company sold the investors convertible debentures in an aggregate principal
amount of $1