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.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Northann Corp. issued 16,000,000 shares of common stock to each X29 Purchaser, or an aggregate of 80,000,000 shares of common stock of common stock to X29 LLC and four other passive investors (the X29 Purchasers) for $2,285,440 to the Company as the payment for the X29 Private Placement.

Security: common stock
Shares: 16,000,000 shares of common stock to each X29 Purchaser, or an aggregate of 80,000,000 shares of common stock
Purchaser: X29 LLC and four other passive investors (the X29 Purchasers)
Consideration: $2,285,440 to the Company as the payment for the X29 Private Placement

Exact text from the filing

On September 3, 2025, the Company issued 16,000,000 shares of common stock to each X29 Purchaser, or an aggregate of 80,000,000 shares of common stock to the X29 Purchasers, and closed the X29 Private Placement.

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Northann Corp. filing history →

Source: SEC EDGAR

accession 0001575872-25-000564

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