---
schema_version: "secwatch.filing_event.v1"
accession: "0001575872-25-000284"
form_type: "8-K"
ticker: "NCL"
cik: "0001923780"
company_name: "Northann Corp."
filed_at: "2025-04-04T23:59:59+00:00"
generated_at: "2026-05-23T21:25:16.482472+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Northann closes $8.1M private placement of 40M shares; CEO voting power drops below 50%

## Summary
- Issued 40M shares at $0.2033/share to Oneflow LLC and four other investors, raising $8.1M gross proceeds.
- Proceeds to be used as working capital; post-issuance shares outstanding rise to 95.46M.
- CEO Lin Li's voting power reduced from majority to 44.3%, ending controlled company status under NYSE American.
- Closing occurred March 31, 2025 after stockholder approval on Dec 31, 2024 and NYSE approval on Jan 13, 2025.

## SEC filing metadata
- accession: 0001575872-25-000284
- form_type: 8-K
- ticker: NCL
- cik: 0001923780
- company_name: Northann Corp.
- filed_at: 2025-04-04T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1923780/000157587225000284/0001575872-25-000284-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1923780/000157587225000284/ncl-20250331.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001575872-25-000284
- JSON: https://secwatch.observer/filing/0001575872-25-000284.json
- Plain text: https://secwatch.observer/filing/0001575872-25-000284.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.