FORT LAWN, S.C., Feb. 07, 2025 (GLOBE NEWSWIRE) -- Northann Corp. (NYSE: NCL) ("Northann" or the "Company") is pleased to announce that the U.S. Securities and Exchange Commission has declared its S-1 registration statement, as amended (the "Registration Statement") (File No. 333-284033) effective as of 4:00 PM ET on February 6, 2025. This milestone marks a significant step forward in the Company's journey to enhance shareholder value and further expand its presence in the innovative and sustainable building materials industry.
The Registration Statement registered the resale of up to 30,084,400 shares of common stock of the Company (the "Registered Shares"), associated with various strategic agreements, including acquisition agreements, private placements, and consulting services arrangements. The Registered Shares may be sold at prevailing market prices or privately negotiated prices through public or private transactions. The Company will not directly receive proceeds from the resale of these shares.
"The effectiveness of our S-1 Registration Statement is an important milestone for Northann as we continue to execute our strategic vision," said Lin Li, Chairman and CEO of Northann. "Registration will increase our float significantly, resulting in greater trading volume that creates more opportunities for investors interested in our company. We are committed to driving growth and innovation in the 3D printing space while delivering sustainable, high-quality solutions to our customers."
Corporate Updates
Northann Corp. is revolutionizing the building materials industry with cutting-edge 3D printing and additive manufacturing technologies. In December 2024, the Company relocated its headquarters to Fort Lawn, South Carolina, enabling streamlined integration of innovation, manufacturing, and distribution operations.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations of offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About Northann Corp.
Founded in 2022 and headquartered in Fort Lawn, South Carolina, Northann Corp. is a leader in additive manufacturing and 3D printing technologies for the building materials industry. Through its flagship brand, Benchwick, the Company provides innovative flooring, decking, and other construction products. Northann boasts a robust portfolio of over 60 granted or pending patents, underscoring its dedication to innovation and sustainability.
Forward Looking Statements
This release may contain "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially due to several factors. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, Northann's results may differ materially from its expectations and projections. While Northann may elect to update these forward-looking statements at some point in the future Northann specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Northann's assessments of any date after the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
For further information, please contact:
Investor Relations
Northann Corp.
ir@northann.com
916-573-3803
