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FORT LAWN, S.C. - Northann Corp. (NYSE: NCL), a micro-cap company with a market value of $14.42 million specializing in additive manufacturing and 3D printing technologies for the building materials industry, has announced the effectiveness of its S-1 registration statement as of 4:00 PM ET on Monday. The U.S. Securities and Exchange Commission’s approval allows for the resale of up to 30,084,400 shares of common stock, related to strategic agreements such as acquisitions, private placements, and consulting services.
The company, which does not expect to receive direct proceeds from the resale of these shares, views this development as a crucial step in its strategy to enhance shareholder value and to grow its market presence. Lin Li, Chairman and CEO of Northann, stated that the registration will significantly increase the company’s trading volume, offering more opportunities to investors.
Northann Corp., founded in 2022, relocated its headquarters to Fort Lawn in December 2024 to better integrate its operations. The company’s commitment to innovation is evident in its portfolio of over 60 granted or pending patents. Through its Benchwick brand, Northann provides advanced flooring, decking, and construction products, aiming to lead in sustainable and high-quality solutions.
The press release clarified that it does not constitute an offer to sell or a solicitation of an offer to buy any securities, which will be conducted in compliance with the Securities Act of 1933.
Investors are advised to exercise caution with forward-looking statements, which are subject to risks and uncertainties. Northann has disclaimed any obligation to update these statements in the future, indicating that they should not be relied upon as representing the company’s position beyond the date of the release.
This news is based on a press release statement from Northann Corp.
In other recent news, Northann Corp has seen significant developments in its corporate activities. Shareholders recently approved several key proposals in their Annual General Meeting, including the reelection of all five directors and the authorization of a reverse stock split. They also consented to the issuance of a substantial amount of common stock in connection with agreements with Oneflow LLC and X29 LLC.
Furthermore, Northann Corp has completed a private placement transaction, selling 9 million shares of common stock to a group led by Caitlin Xu Kang. This move has resulted in gross proceeds of $1.35 million, which the company plans to use as working capital. Additionally, Northann Corp has entered into agreements for two separate private placement transactions, planning to issue a combined total of 120 million shares of common stock to a group of investors.
The company has also amended a lease agreement with SKY SC LLC, moving the commencement date from August to November. This change was reported in an 8-K filing with the Securities and Exchange Commission. In another strategic move, Northann Corp has acquired Raleigh Industries Limited, a Hong Kong company, issuing 4.5 million shares of its common stock to the seller, Jianqun Xu.
These recent developments indicate a robust strategic initiative by Northann Corp to strengthen its financial structure and incentivize its workforce. The information in this article is based on the company’s latest SEC filings and press releases.
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