As filed with the Securities and Exchange Commission
on March 8, 2024
Registration No. 333-
FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
Northann Corp.
(Exact name of registrant as specified in its charter)
| Nevada |
|
88-1513509 |
|
(State or other jurisdiction of incorporation or
organization) |
|
(I.R.S. Employer Identification No.) |
c/o Northann Distribution Center Inc.
9820 Dino Drive, Suite 110
Elk Grove, CA 95624
T: (916) 573 3803
(Address of Principal Executive Offices) (Zip Code)
2023 Equity Incentive Plan
(Full title of the plan)
Lin Li
Chief Executive Officer
c/o Northann Distribution Center Inc.
9820 Dino Drive, Suite 110
Elk Grove, CA 95624
T: (916) 573 3803
(Name, address and telephone number, including area
code, of agent for service)
Copies to:
Henry Yin, Esq.
Loeb & Loeb LLP
2206-19 Jardine House
1 Connaught Place
Hong Kong
Phone: +852 3923 1111
Facsimile: +852 3923 1100
Indicate by check mark whether the registrant is a
large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large
accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
(Check one):
| Large accelerated filer |
¨ |
|
Accelerated filer |
¨ |
| Non-accelerated filer |
x |
|
Smaller reporting company |
x |
| |
|
|
Emerging growth company |
x |
If an emerging growth company, indicate by check mark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
EXPLANATORY NOTE
This Registration
Statement is being filed by the Registrant to register 4,000,000 shares reserved and available for issuance pursuant to the 2023 Equity
Incentive Plan adopted by the Board of Directors of the Company and approved by the Company’s shareholders.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
| ITEM 2. | REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION* |
* Information required by Part
I to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428 under the Securities
Act of 1933, as amended (the "Securities Act") and the Note to Part I of Form S-8. The documents containing information
specified in this Part I will be separately provided to the participants in the Plan covered by this Registration Statement, as specified
by Rule 428(b)(1) under the Securities Act. These documents and the documents incorporated by reference in this Registration Statement
pursuant to Item 3 of Part II of Form S-8, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the
Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
In this Registration Statement,
Northann Corp. is sometimes referred to as “the Registrant”, “we”, “us” or “our.”
| ITEM 3. | INCORPORATION OF DOCUMENTS BY REFERENCE |
The following documents filed
with the Securities and Exchange Commission (the “Commission”) by the Registrant are incorporated herein by reference:
| (a) | the prospectus filed by the Registrant with the Commission pursuant to Rule 424(b)(5) under the Securities
Act on May 16, 2023, relating to the Registration Statement on Form S-1, as amended (Registration No. 333-273246), which contains the
Registrant’s audited financial statements for the latest fiscal year for which such statements have been filed; |
| (a) | the Registrant’s Quarterly Report on Form 10-Q filed with the SEC on November 23, 2023; |
| (b) | the Registrant’s Current Report on Form 8-K, filed with the SEC on October 23, 2023, and October
26, 2023; and |
| (c) | the description of the Registrant’s common stock contained in the Registrant’s Registration
Statement on Form 8-A filed with the Commission pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), on September 25, 2023, including any amendments or reports filed for the purpose of updating that description. |
In addition, all documents subsequently
filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than those furnished
pursuant to Item 2.02 or Item 7.01 of Form 8-K or other information “furnished” to the Commission) prior to the filing of
a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which deregisters
all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be part hereof
from the time of filing of such documents.
For purposes of this Registration
Statement, any statement contained in a document incorporated or deemed to be incorporated herein by reference shall be deemed to be modified
or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently
filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement
so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Subject to the foregoing, all information in this Registration Statement is so qualified in its entirety by the information appearing
in the documents incorporated herein by reference.
| ITEM 4. | DESCRIPTION OF SECURITIES |
Not applicable.
| ITEM 5. | INTEREST OF NAMED EXPERTS AND COUNSEL |
Not applicable.
| ITEM 6. | INDEMNIFICATION OF DIRECTORS AND OFFICERS |
Our officers and directors are
indemnified as provided by the Nevada Revised Statutes (“NRS”) and our bylaws.
Under the NRS, officer and
director immunity from liability to a company or its stockholders for monetary liabilities applies automatically unless it is
specifically limited by a company’s articles of incorporation. The NRS provides that an officer or director will not be liable
for acts or omissions unless it is proven that the officer’s or director’s acts or omissions constitute a breach of
fiduciary duties and such breach involved intentional misconduct, fraud, or a knowing violation of law. The NRS provides that no
director shall be liable to the Company or its stockholders for monetary damages for breach of fiduciary duty as a director;
provided that the director’s liability shall not be eliminated or limited for (i) breach of any duty of loyalty to the Company
or its stockholders, (ii) acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law,
(iii) any transaction from which the director derived an improper personal benefit, or (iv) an act or omission occurring before the
person was a director of the Company.
Our bylaws provide that we
will indemnify our directors, officers, employees, and agents, to the fullest extent permitted by the NRS. Our bylaws also provide
that we may purchase and maintain liability insurance, or make other arrangements for such obligations or otherwise, to the extent
permitted by the NRS.
The NRS permits us to indemnify
any person who was or is a party or is threatened to be made a party to any threatened, pending, or contemplated action, suit, or proceeding,
whether civil, criminal, administrative, or investigative, including an action by or on behalf of the Company, by reason of the fact that
such person is or was a director, officer, employee, or agent of the Company, or is or was servicing at the request of the Company as
a director, officer, employee, or agent of another entity, against expenses, including attorneys’ fees actually and reasonably incurred
by such person in connection with the defense or settlement of such action, suit, or proceeding if such person has exercised his powers
in good faith and with a view to the interests of the Company; or acted in good faith and in a manner that such person reasonably believed
to be in or not opposed to the best interest of the Company, and with respect to any criminal action or proceeding, had no reasonable
cause to believe such conduct was unlawful.
Indemnification under the NRS
may not be made for any claim, issue, or matter as to which such person has been adjudged by a court of competent jurisdiction, after
exhaustion of all appeals therefrom, to be liable to the Company or for amounts paid in settlement to the Company, unless and only to
the extent that the court in which the action or suit was brought or other court of competent jurisdiction determines that, in view of
all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such expenses as the court deems proper.
The NRS also provides that to
the extent that a director, officer, employee, or agent of the Company has been successful on the merits or otherwise in defense of any
action, suit, or proceeding for which the Company is permitted to provide indemnification, or in defense of any claim, issue, or matter
therein, the Company is required to indemnify such person against expenses, including attorneys’ fees, actually and reasonably incurred
in connection with the defense.
Our bylaws require the
Company to advance expenses of an officer or director as incurred in defending a civil or criminal action, suit, or proceeding upon
receipt of an undertaking from the officer or director to repay the amounts advanced if it is ultimately determined by a court of
competent jurisdiction that the officer or director is not entitled to such indemnification.
| ITEM 7. | EXEMPTION FROM REGISTRATION CLAIMED |
Not applicable.
See the attached Exhibit Index.
| ITEM 9. | REQUIRED UNDERTAKINGS |
| (a) | The undersigned Registrant hereby undertakes: |
| (1) | To file, during any period in which offers or sales are being made, a post-effective amendment to this
Registration Statement: |
| (i) | To include any prospectus required by Section 10(a)(3) of the Securities Act; |
| (ii) | To reflect in the prospectus any facts or events arising after the effective date of the Registration
Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change
in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price
set forth in the “Calculation of Registration Fee” table in the effective registration statement; and |
| (iii) | To include any material information with respect to the plan of distribution not previously disclosed
in the Registration Statement or any material change to such information in the Registration Statement; |
Provided, however, That:
(A) Paragraphs (a)(1)(i) and
(a)(1)(ii) of this section do not apply if the registration statement is on Form S-8 (§239.16b of this chapter), and the information
required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission
by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)) that are incorporated
by reference in the registration statement; and
(B) Paragraphs (a)(1)(i), (a)(1)(ii)
and (a)(1)(iii) of this section do not apply if the registration statement is on Form S-3 (§239.13 of this chapter), Form SF-3 (§239.45
of this chapter) or Form F-3 (§239.33 of this chapter) and the information required to be included in a post-effective amendment
by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section
15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form
of prospectus filed pursuant to Rule 424(b) (§230.424(b) of this chapter) that is part of the registration statement.
(C) Provided further, however,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration statement is for an offering of asset-backed securities on Form
SF-1 (§239.44 of this chapter) or Form SF-3 (§239.45 of this chapter), and the information required to be included in a post-effective
amendment is provided pursuant to Item 1100(c) of Regulation AB (§229.1100(c)).
(2) That, for the purpose of determining any liability
under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the termination of the offering.
(5) That, for the purpose of determining liability
under the Securities Act of 1933 to any purchaser:
(i) If the registrant is relying
on Rule 430B (§230.430B of this chapter):
(A) Each prospectus filed by
the registrant pursuant to Rule 424(b)(3) (§230.424(b)(3) of this chapter) shall be deemed to be part of the registration statement
as of the date the filed prospectus was deemed part of and included in the registration statement; and
(B) Each prospectus required
to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) (§230.424(b)(2), (b)(5), or (b)(7) of this chapter) as part of a registration
statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) (§230.415(a)(1)(i),
(vii), or (x) of this chapter) for the purpose of providing the information required by section 10(a) of the Securities Act of 1933 shall
be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used
after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in
Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a
new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates,
and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that
no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated
or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as
to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration
statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date;
or
(ii) If the registrant is subject
to Rule 430C (§230.430C of this chapter), each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating
to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A (§230.430A
of this chapter), shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness.
Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made
in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration
statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was
made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately
prior to such date of first use.
(iii) If the registrant is relying
on §230.430D of this chapter:
(A) Each prospectus filed by
the registrant pursuant to §230.424(b)(3) and (h) of this chapter shall be deemed to be part of the registration statement as of
the date the filed prospectus was deemed part of and included in the registration statement; and
(B) Each prospectus required
to be filed pursuant to §230.424(b)(2), (b)(5), or (b)(7) of this chapter as part of a registration statement in reliance on §230.430D
of this chapter relating to an offering made pursuant to §230.415(a)(1)(vii) or (a)(1)(xii) of this chapter for the purpose of providing
the information required by section 10(a) of the Securities Act of 1933 (15 U.S.C. 77j(a)) shall be deemed to be part of and included
in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the
first contract of sale of securities in the offering described in the prospectus. As provided in §230.430D of this chapter, for liability
purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the
registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of
such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in
a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated
by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time
of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus
that was part of the registration statement or made in any such document immediately prior to such effective date; or
(6) That, for the purpose of determining liability
of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities:
The undersigned registrant undertakes that in a primary
offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used
to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications,
the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:
(i) Any preliminary prospectus
or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424 (§230.424 of this
chapter);
(ii) Any free writing prospectus
relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;
(iii) The portion of any other
free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided
by or on behalf of the undersigned registrant; and
(iv) Any other communication
that is an offer in the offering made by the undersigned registrant to the purchaser.
(7) If the registrant is relying on §230.430D
of this chapter, with respect to any offering of securities registered on Form SF-3 (§239.45 of this chapter), to file the information
previously omitted from the prospectus filed as part of an effective registration statement in accordance with §§230.424(h)
and 230.430D of this chapter.
| (b) | The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the
Securities Act, each filing of the Registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and,
where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof. |
| (h) | Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised
that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless
in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue. |
SIGNATURES
Pursuant to the requirements of the Securities
Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
on March 8, 2024.
| |
Northann Corp. |
| |
|
|
| |
By: |
/s/ Lin Li |
| |
|
Name: |
Lin Li |
| |
|
Title: |
Chairman of the Board, Chief Executive Officer, President, Secretary, and Treasurer |
POWER OF ATTORNEY
Each person whose signature appears
below constitutes and appoints Lin Li as his or her true and lawful attorneys-in-fact and agents, with full power of substitution and
re-substitution, for him or her and in his or her name, place, and stead, in any and all capacities, to sign any and all amendments (including
post-effective amendments, exhibits thereto and other documents in connection therewith) to this Registration Statement, and to file the
same, with all exhibits thereto, and other documents in connection therewith, with the Commission, granting unto said attorneys-in-fact
and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the
premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements
of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons and in the capacities
and on the dates indicated.
Date:
March 8, 2024 |
/s/
Lin Li |
| Lin Li |
Chairman
of the Board, Chief Executive Officer,
President,
Secretary, and Treasurer (Principal Executive Officer) |
| |
|
Date:
March 8, 2024 |
/s/ David M.
Kratochvil |
| David M. Kratochvil |
| Chief Financial Officer (Principal Financial Officer
and Principal Accounting Officer) |
| |
|
Date:
March 8, 2024 |
/s/ Kurtis W.
Winn |
| Kurtis W. Winn |
| Chief Operating Officer and Director |
| |
|
Date:
March 8, 2024 |
/s/ Bradley
C. Lalonde |
| Bradley C. Lalonde |
| Director |
| |
|
Date:
March 8, 2024 |
/s/ Charles
James Schaefer IV |
| Charles James Schaefer IV |
| Director |
| |
|
Date:
March 8, 2024 |
/s/ Scott Powell |
| Scott Powell |
| Director |
Exhibit
5.1
|
Sherman & Howard L.L.C.
50 West Liberty Street, Suite 1000, Reno NV 89501
Phone: 775.323.1980
3960 Howard Hughes Parkway, Suite 500
Las Vegas, NV 89169 Phone: 702.387.6073
ShermanHoward.com |
 |
March 8, 2024
Northann Corp.
c/o Northann Distribution Center Inc.
Elk Grove, California 95624
| Re: | Northann Corp./Registration Statement on Form S-8 |
Ladies and Gentlemen:
We have acted as special Nevada
counsel to Northann Corp., a Nevada corporation (the “Company”), in connection with the registration by the Company of 4,000,000
shares (the “Shares”) of its common stock, $0.001 par value (the “Common Stock”) that have or may be issued pursuant
to the Company’s 2023 Equity Incentive Plan (the “Plan”) on Form S-8 (the “Registration Statement”) under
the Securities Act of 1933, as amended (“Securities Act”), as filed with the Securities and Exchange Commission (“Commission”).
For purposes of these opinions,
we have examined originals or copies of:
(a) the
Registration Statement;
(b) the
Articles of Incorporation of the Company as filed with the Secretary of State of Nevada on March 29,2022, as amended by Certificate of
Amendment as filed with the Secretary of State of Nevada on July 25, 2023;
(c) the
Bylaws of the Company as adopted on March 25, 2022;
(d) the
Plan; and
(f) certain
actions of the Board of Directors and stockholders of the Company relating to the adoption of the Plan, the registration of the Shares
under the Securities Act, and such other matters as relevant.
|
Northann Corp.
March 8, 2024
Page 2 |
|
We also have examined originals
or copies of such records of the Company and other documents, certificates, and records as we have deemed necessary or appropriate as
a basis for the opinions set forth herein.
In our examination we have
assumed:
(a) the
legal capacity and competency of all natural persons executing the documents;
(b) the
genuineness of all signatures on the documents;
(c) the
authenticity of all documents submitted to us as originals, and the conformity to original documents of all documents submitted to us
as copies;
(d) that
the parties to such documents, other than the Company, had the power, corporate or other, to enter into and perform all obligations thereunder;
(e) that
such documents are enforceable in accordance with their terms with respect to all parties thereto;
(f) that
at the time of issuance of any Shares, the Company validly exists and is duly qualified and in good standing under the laws of Nevada;
and
(g) other
than with respect to the Company, the due authorization by all requisite action, corporate or other, of the execution and delivery by
all parties of the documents.
We have relied upon the accuracy
and completeness of the information, factual matters, representations, and warranties contained in such documents.
In rendering the opinions
set forth below, we have also assumed that:
(a) at
or prior to the time of issuance and delivery, the Shares will be registered by the transfer agent and registrar of such Shares;
(b) the
Company will keep reserved a sufficient number of shares of its Common Stock to satisfy its obligations for issuances of Shares under
the Plan;
(c) upon
issuance of any of the Shares, the total number of shares of the Company’s Common Stock issued and outstanding will not exceed the
total number of shares of Common Stock that the Company is then authorized to issue under its Articles of Incorporation; and
|
Northann Corp.
March 8, 2024
Page 3 |
|
(d) each
stock grant, stock option, or other security exercisable or exchangeable for a Share under the Plan has been, or will be, duly authorized,
validly granted, and duly exercised or exchanged in accordance with the terms of the Plan, at the time of any grant of a Share or exercise
of such stock option or other security under the Plan.
The opinions set forth below
are also subject to the further qualification that the enforcement of any agreements or instruments referenced herein and to which the
Company is a party may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or other similar laws affecting creditors’
rights generally and by general principles of equity (regardless of whether enforceability is considered in a proceeding in equity or
at law).
Based on the foregoing and
in reliance thereon, and subject to the assumptions, limitations and qualifications set forth herein, we are of the opinion that:
(a) the
Shares that have been or may be issued under the Plan are duly authorized shares of the Company’s Common Stock; and
(b) if,
as, and when issued against receipt of the consideration therefor in accordance with the provisions of the Plan and in accordance with
the Registration Statement, the Shares will be validly issued, fully paid, and nonassessable.
The opinions expressed herein
are limited to the matters specifically set forth herein and no other opinion shall be inferred beyond the matters expressly stated. We
disclaim any undertaking to advise you of any subsequent changes in the facts stated or assumed herein or any changes in applicable law
that may come to our attention after the date the Registration Statement is declared effective.
While certain members of this
firm are admitted to practice in certain jurisdictions other than Nevada, in rendering the foregoing opinions we have not examined the
laws of any jurisdiction other than Nevada. Accordingly, the opinions we express herein are limited to matters involving the laws of the
State of Nevada (other than the securities laws and regulations of the State of Nevada, as to which we express no opinion). We express
no opinion regarding the effect of the laws of any other jurisdiction or state, including any securities laws related to the issuance
and sale of the Shares.
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Northann Corp.
March 8, 2024
Page 4 |
|
We hereby consent to the filing
of this opinion as an exhibit to the Registration Statement and we consent to the reference of our name under the caption “Legal
Matters” in the Prospectus forming a part of the Registration Statement. In giving the foregoing consent, we do not hereby admit
that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of
the Commission thereunder.
| |
Very truly yours, |
| |
|
| |
/s/ Sherman & Howard L.L.C. |
| |
|
| |
SHERMAN & HOWARD L.L.C. |
Exhibit 23.2
Consent of Independent Registered Public
Accounting Firm
We hereby consent to the incorporation by reference
in this Registration Statement on Form S-8 of Northann Corp and its subsidiaries (collectively the “Company”) of our reports
dated March 31, 2023 relating to the audit of the consolidated balance sheets of Northann Corp and its subsidiaries (collectively the
“Company”) as of December 31, 2022, 2021 and 2020, and the related consolidated statements of income and comprehensive income
(loss), stockholders’ equity (deficit) and cash flows for each of the years in the three-year period ended December 31, 2022, and
the related notes (collectively referred to as the financial statements), which appear in the Company’s Registration Statement on
Form S-1, as amended (Registration No. 333-273246).
We also consent to the Company’s reference
to WWC, P.C., Certified Public Accountants, as experts in accounting and auditing.
| |
 |
| San Mateo, California |
WWC, P.C. |
| March 8, 2024 |
Certified Public Accountants |
| |
PCAOB ID: 1171 |
Exhibit 107
Calculation of Filing Fee Table
Form S-8
(Form Type)
Northann Corp.
(Exact Name of Registrant as Specified in its Charter)
Newly Registered Securities
|
Security
Type |
|
Security
Class
Title |
|
Fee
Calculation
Rule |
|
Amount
Registered(1) |
|
|
Proposed
Maximum
Offering
Price
Per
Share(2) |
|
|
Maximum
Aggregate
Offering
Price |
|
Fee Rate |
|
Amount of
Registration
Fee |
|
| Equity |
|
Common Stock, $0.001 par value |
|
Rule 457(c) and Rule 457(h) |
|
|
4,000,000 |
(3) |
|
$ |
0.6960 |
|
$ |
2,784,000.00 |
|
$147.60 per $1,000,000 |
|
$ |
410.92 |
|
| Total Offering Amounts |
|
|
|
|
|
$ |
2,784,000.00 |
|
|
|
$ |
410.92 |
|
| Total Fee Offsets |
|
|
|
|
|
|
|
|
|
|
$ |
0.00 |
|
| Net Fee Due |
|
|
|
|
|
|
|
|
|
|
$ |
410.92 |
|
| (1) | Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the “Securities Act”),
this Registration Statement also covers any additional securities of Northann Corp. (the “Registrant”) that may become issuable
under the Registrant’s 2023 Equity Incentive Plan (the “Plan”) as a result of any future stock splits, stock dividends
or similar adjustments of the Registrant’s outstanding ordinary shares. |
| (2) | Estimated solely for the purpose of calculating the registration fee pursuant
to Rule 457(c) and Rule 457(h)(1) of the Securities Act. The proposed maximum offering price per share is estimated to be $0.6960, based
on the average of the high sales price ($0.7310) and the low sales price ($0.6610) for the Registrant’s common stock as reported
by NYSE American on March 6, 2024. |
| (3) | These 4,000,000 shares of common stock to be registered are reserved for future grants under the Plan. |
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