---
schema_version: "secwatch.filing_event.v1"
accession: "0001575872-25-000755"
form_type: "8-K"
ticker: "NCL"
cik: "0001923780"
company_name: "Northann Corp."
filed_at: "2025-12-11T23:59:59+00:00"
generated_at: "2026-05-16T13:33:05.466593+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NYSE American notifies Northann of non-compliance with equity standard; shares to trade with ".BC"

## Summary
- Stockholders' equity ~$1.8M as of Sep 30, 2025, below required $2M; losses in two of three recent fiscal years.
- Must submit compliance plan by Jan 7, 2026; deadline to regain compliance by June 8, 2027.
- Outstanding fee balance of $60,000 must be paid before plan review.
- No immediate effect on trading; company intends to submit plan and pay fees.

## SEC filing metadata
- accession: 0001575872-25-000755
- form_type: 8-K
- ticker: NCL
- cik: 0001923780
- company_name: Northann Corp.
- filed_at: 2025-12-11T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1923780/000157587225000755/0001575872-25-000755-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1923780/000157587225000755/ncl-20251202.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001575872-25-000755
- JSON: https://secwatch.observer/filing/0001575872-25-000755.json
- Plain text: https://secwatch.observer/filing/0001575872-25-000755.txt

## Source-grounded claims
- claim_id: b9c08ff130cf337298355916d4686a5ea8299f51
  claim: Northann Corp. received a nyse_american deficiency notice notice regarding stockholders equity (rules 1003(a)(i)).
  evidence_excerpt: December 8, 2025, Northann Corp. (the “Company”) received a letter (the “Letter”) from the staff of NYSE American LLC (the “Exchange”) stating that the Company was not in compliance with the Exchange’s continued listing standards under Section 1003(a)(i) of the NYSE American Company Guide (the “Company Guide”), as it had stockholders’ equity of approximately $1.8 million as of September 30, 2025, and losses from continuing operations and/or net losses in two of its three most recent fiscal years ended December 31, 2024. Section 1003(a)(i) of the Company Guide requires a listed company to have
  evidence_url: https://www.sec.gov/Archives/edgar/data/1923780/000157587225000755/0001575872-25-000755-index.htm

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