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1-for-8 Reverse Stock Split
On October 3, 2025,
Northann Corp. (the "Company")
filed a Certificate of Amendment to its Articles of Incorporation,
as amended to date, and a Certificate of Amendment to Designation, with the Nevada Secretary of State as corrected on October 7, 2025,
effecting a 1-for-8 reverse stock split (the "Reverse Stock Split") of the Company's common stock, par value $0.001 per share (the "Common Stock") and the Company's series A preferred stock, par value $0.001 per share (the "Preferred Stock"). The Reverse Stock Split was approved by the Board of the Directors of the Company (the "Board") and became effective at 16:30 pm ET on October 7, 2025.
As a result of the Reverse Stock Split, every eight (8) shares of the Company's issued and outstanding Common Stock have been converted into one (1) share of issued and outstanding Common Stock and every eight (8) shares of the Company's issued and outstanding Preferred Stock have been converted into one (1) share of Preferred Stock. The Reverse Stock Split affects all of the Company's stockholders uniformly and does not affect any stockholder's percentage ownership interests in the Company, except to the extent that the Reverse Stock Split results in any of the Company's stockholders owning a fractional share. Each stockholder will receive such additional fractions of a share to round up to a full share. The Reverse Stock Split has no impact on stockholders' proportionate equity interests or voting rights in the Company or the par value of the Company's Common Stock and Preferred Stock, which remains unchanged.
The Company's Common Stock will begin trading on a split-adjusted basis on the NYSE American at the commencement of trading on October 8, 2025 under the Company's existing symbol "NCL." The Company's Common Stock has been assigned a new CUSIP number of 66373M 408 in connection with the Reverse Stock Split.
Posted In: NCL
