Northann Corp. Files 8-K: Material Agreement & Financials

TL;DR

Northann Corp. signed a big deal, filed financials. Watch this space.

AI Summary

Northann Corp. entered into a material definitive agreement on July 26, 2024. The filing also includes Regulation FD Disclosure and Financial Statements and Exhibits. The company is incorporated in Nevada and its principal executive office is located in Elk Grove, CA.

Why It Matters

This 8-K filing indicates a significant new agreement for Northann Corp., which could impact its future business operations and financial performance.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, and the inclusion of financial statements suggests a need for investors to review the company's current financial health.

Key Players & Entities

• Northann Corp. (company) — Registrant
• July 26, 2024 (date) — Date of earliest event reported
• Nevada (jurisdiction) — State of Incorporation
• 9820 Dino Drive, Suite 110, Elk Grove, CA 95624 (address) — Principal Executive Office
• 916-573-3803 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.001 — ge on which registered Common Stock, $0.001 par value NCL NYSE American LLC I
• $33,315.63 — Agreement will increase annually, from $33,315.63 per month in the first year to $37,497.
• $37,497.03 — 3,315.63 per month in the first year to $37,497.03 per month in the fifth year. The Compan
• $97,370.47 — obligated to pay a security deposit of $97,370.47 in the form of immediately available fu
• $12,000,000 — sal to purchase the entire property for $12,000,000 in the first year of the term. The deci

Filing Documents

• ncl-20240726.htm (8-K) — 88KB
• or044_ex10-1.htm (EX-10.1) — 384KB
• or044_ex99-1.htm (EX-99.1) — 21KB
• or044_ex10-1img01.jpg (GRAPHIC) — 76KB
• or044_ex99-1img01.jpg (GRAPHIC) — 5KB
• 0001575872-24-000865.txt ( ) — 806KB
• ncl-20240726.xsd (EX-101.SCH) — 4KB
• ncl-20240726_cal.xml (EX-101.CAL) — 1KB
• ncl-20240726_def.xml (EX-101.DEF) — 11KB
• ncl-20240726_lab.xml (EX-101.LAB) — 16KB
• ncl-20240726_pre.xml (EX-101.PRE) — 12KB
• ncl-20240726_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On July 26, 2024, Northann Corp. (the "Company") entered into a lease agreement ( as amended on August 5, 2024, the "Lease Agreement") with SKY SC LLC (the "Landlord"), with a commencement date of August 20, 2024 (the "Commencement Date"). The Lease Agreement premises (the "Premises") includes approximately 106,610 square feet that is a portion of a 221,000 square feet building located at 2251 Catawba River Rd., Fort Lawn, South Carolina, USA. The Premises includes 4,560 square feet of office space and 98,400 square feet of industrial space. The Lease Agreement has a term of five years. The rent of the Lease Agreement will increase annually, from $33,315.63 per month in the first year to $37,497.03 per month in the fifth year. The Company is obligated to pay a security deposit of $97,370.47 in the form of immediately available funds. The Company has a first right of refusal to purchase the entire property for $12,000,000 in the first year of the term. The decision to purchase must be exercised with 10 days of notice from the Landlord and the closing must occur within 90 days. The foregoing description of the Lease Agreement is qualified in its entirety by reference to the Lease Agreement, which is filed with this Current Report on Form 8-K as Exhibit 10.1.

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure On August 5, 2024, the Company issued a press release announcing its plan to relocate its headquarters to South Carolina. A copy of that press release is furnished on Exhibit 99.1 hereto and is incorporated herein by reference. The information in this Item 7.01 and in Exhibit 99.1 attached hereto is furnished pursuant to the rules and regulations of the Securities and Exchange Commission and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 10.1 Lease Agreement, dated July 26, 2024 and amended as of August 5, 2024 , among Northann Corp. and SKY SC LLC 99.1 Press Release dated August 5, 2024 104 Cover Page Interactive Data File (embedded with the Inline XBRL document). Exhibits and schedules to this Exhibit have been omitted pursuant to Regulation S-K Item 601(a)(5). The Registrant agrees to furnish supplementally a copy of any omitted schedule or exhibit to the SEC upon request. 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NORTHANN CORP. Date: August 5 , 2024 By: /s/ Lin Li Name: Lin Li Title: Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR