Northann Corp. has announced an unregistered sale of equity securities in connection with its recent Asset Purchase Agreement with Kingsford Consultancy Ltd. As consideration for certain proprietary software assets, Northann will issue 12,500,000 shares of its common stock at $0.40 per share, totaling $5,000,000, to a designee designated by Kingsford. The shares will be issued as restricted securities under Section 4(a)(2) of the Securities Act of 1933 and will bear a restrictive legend. The transaction is subject to closing conditions, including approval from Northann's stockholders and the NYSE American.
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