NCL

#6362
Northann Corp. Common Stock
0.1 5 USD
-0.06%
Sector: Consumer Cyclical
Base: USD
Profit Currency: USD
Daily Range
0.15
0.16
Year Range
0.11
0.19
Daily Change
-6.25%
Monthly Change
-6.25%
6 month change
-10.98%
Year Change
-10.98%
Previous Close
0.1 6
Open
0.1 5
Low
0.1 5
High
0.1 6
Volume
6
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Financials

Overview Statement Statistics Dividends Documents

2026

Current report, Q2 FY2026
Northann Corp. current report, Q2 FY2026
8-K
Quarterly report, Q1 FY2026
Northann Corp. quarterly report, Q1 FY2026
10-Q
Current report, Q1 FY2026
Northann Corp. current report, Q1 FY2026
8-K
Current report, Q1 FY2026
Northann Corp. current report, Q1 FY2026
8-K

2025

Annual report, FY2025
Northann Corp. annual report, FY2025
10-K
Current report, Q4 FY2025
Northann Corp. current report, Q4 FY2025
8-K
Current report, Q4 FY2025
Northann Corp. current report, Q4 FY2025
8-K
Current report, Q4 FY2025
Northann Corp. current report, Q4 FY2025
8-K
Current report, Q4 FY2025
Northann Corp. current report, Q4 FY2025
8-K
Current report, Q4 FY2025
Northann Corp. current report, Q4 FY2025
8-K

Northann Corp. current report, Q1 FY2025

Northann Corp. Form 8-K Summary

Business Context and Reporting Period

This Current Report on Form 8-K covers events occurring on March 31, 2025, for Northann Corp. (NCL), a Nevada corporation listed on NYSE American. The filing details the closing of a previously announced private placement transaction and the resulting changes in corporate control status.

Key Financial Metrics and Capital Structure

  • Capital Raised: The Company received a total of $8,133,000 from five purchasers (Oneflow LLC and four passive investors), with each investor contributing $1,626,600.
  • Share Issuance: 40,000,000 shares of common stock were issued in aggregate (8,000,000 shares per purchaser).
  • Issuance Price: $0.2033 per share, calculated based on the average closing price of the five trading days prior to closing (March 24–28, 2025).
  • Post-Issuance Outstanding Shares: 95,464,400 shares.
  • Use of Proceeds: Designated for working capital.
  • Revenue, Profit, and Cash Flow: The filing text does not provide specific revenue, profit, operating cash flow, or margin data for the period.
  • Debt and Liquidity: The filing text does not provide specific debt balances or liquidity ratios, though the capital raise is intended to bolster working capital.

Material Changes

  • Equity Dilution: The issuance of 40,000,000 new shares increased the total outstanding share count to 95,464,400.
  • Control Status Change: Following the issuance, the voting power of Lin Li (Chairman, CEO, President, Secretary, and Treasurer) decreased from a majority to 44.3%.
  • Corporate Governance: As of March 31, 2025, the Company ceased to qualify as a "controlled company" under NYSE American rules due to the reduction in Mr. Li's voting power.

Outlook, Risks, and Management Commentary

Management indicated that the proceeds from the Oneflow Private Placement will be utilized for working capital. The transaction was subject to closing conditions including stockholder approval (granted December 31, 2024) and NYSE American approval (granted January 13, 2025), both of which were satisfied prior to the March 31, 2025 closing. The filing does not contain specific forward-looking guidance, risk factors, or discussion of unusual items beyond the completion of the equity offering.

Investor Verification Checklist

  • Verify the exact number of shares outstanding (95,464,400) and the updated ownership percentage of Lin Li (44.3%) in subsequent filings.
  • Confirm the actual deployment of the $8,133,000 raised for working capital in future financial statements.
  • Review the implications of losing "controlled company" status on future corporate governance and proxy requirements.
  • Check for any registration rights or lock-up provisions detailed in the Registration Rights Agreement (Exhibit 10.2) referenced in the filing.

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