secwatch.observer — SEC 8-K summary
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Issuer:     Northann Corp. (NCL)
CIK:        0001923780
Form:       8-K
Filed at:   2024-10-15T23:59:59+00:00
Accession:  0001575872-24-001083
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Northann Corp. acquires Cedar Modern Limited for 4.48M shares of common stock
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- Issued 4,484,400 shares of common stock (approx. 15.5% of post-deal total) to acquire all shares of Cedar Modern Limited (HK).
- Agreement dated Oct 11, 2024; closed Oct 14, 2024; total shares outstanding post-issuance: 28,977,490.
- 12-month lock-up on consideration shares for seller Chuntao Li.
- Contingent registration rights: if revenue sourced by seller & key employees >= $20M in first 3 months post-closing, company must register resale shares.
- Shares issued in private placement exempt under Section 4(a)(2) and Rule 506 of Regulation D.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1923780/000157587224001083/0001575872-24-001083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1923780/000157587224001083/ncl-20241011.htm
  HTML page:      https://secwatch.observer/filing/0001575872-24-001083

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