Northann closes $11.4M private placement, issues 80M shares, ~84% dilution

Northann Corp.

Closed X29 Private Placement on Sept 3, 2025; issued 80M shares to five investors at $0.14284/sh.
Aggregate proceeds of $11.43M ($2.285M per investor); shares outstanding post-issuance 175.46M.
Dilution of ~84% from prior share count of ~95.5M shares outstanding.
Proceeds to be used as working capital.
Transaction originally announced Dec 2024; required stockholder and NYSE American approval.

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