Northann Corp. Receives Non-Compliance Notice from NYSE American
Northann Corp (NYSE American: NCL) received a non-compliance notice from NYSE American under Section 1003(a)(i) for failing to meet the requirement of $2 million stockholders' equity after reporting losses in two of its three most recent fiscal years.
Rhea-AI Summary
Northann Corp (NYSE American: NCL) received a non-compliance notice from NYSE American under Section 1003(a)(i) for failing to meet the requirement of $2 million stockholders' equity after reporting losses in two of its three most recent fiscal years. The company has until January 7, 2026 to deliver a Plan to regain compliance by June 8, 2027. Northann said it intends to pay outstanding Exchange fees and timely submit the Plan. If the Exchange accepts the Plan, the company will remain listed subject to periodic and quarterly monitoring. The notice does not immediately affect trading or SEC reporting, but the common stock will trade with a .BC designation indicating below-compliance status.
Positive
- Company intends to pay outstanding Exchange fees
- Will submit a compliance Plan by January 7, 2026
- If accepted, listing continues under Plan with monitoring
Negative
- Not in compliance with Section 1003(a)(i) (equity <$2M)
- Common stock receives ".BC" below-compliance trading designation
- Must regain compliance by June 8, 2027 or risk delisting
Details
News Market Reaction – NCL
In the Dec 12 session, NCL declined 2.86%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- Equity requirement
- $2 million
- Minimum stockholders’ equity under NYSE American Section 1003(a)(i)
- Loss history test
- 2 of 3 fiscal years
- Losses from continuing operations and/or net losses condition
- Plan deadline
- January 7, 2026
- Date by which company must submit compliance plan under Section 1009
- Compliance target date
- June 8, 2027
- Date by which company aims to regain continued listing compliance
Historical Context
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Going concern qualification disclosure under NYSE American Company Guide requirements.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Fort Lawn, SC, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Northann Corp. (NYSE American: NCL) (the "Company" or "Northann"), today announced it received a notice from the staff of NYSE American LLC (the "Exchange") 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. Section 1003(a)(i) requires a listed company to have stockholders' equity of
The Company intends to pay all of its outstanding fees to the Exchange, and timely deliver a Plan to the Exchange. If the Exchange accepts the Plan, the Company will be able to continue its listing during the Plan period and will be subject to periodic reviews including quarterly monitoring for compliance with the Plan until it has regained compliance.
Receipt of the notice from the Exchange has no immediate effect on the listing or trading of the Company’s common stock on the Exchange, and does not affect the Company’s business, operations or reporting requirements with the U.S. Securities and Exchange Commission. The common stock will continue to trade under the symbol “NCL”, but will have an added designation of “.BC” to indicate the status of the common stock as “below compliance”.
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.
Safe Harbor Statement
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.com916-573-3803
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