NYSE American to Commence Delisting Proceedings Against Northann Corp. (NCL)
NYSE American LLC (“NYSE American” or the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Northann Corp. (the “Company”) — ticker symbol NCL — from NYSE American. Trading in the Company’s common stock will be suspended immediately.
On June 24, 2026, NYSE Regulation halted trading in the Company’s common stock for regulatory concerns. NYSE Regulation has now determined that the Company is not suitable for continued listing under Sections 1001, 1002(e), 1003, and 1007 of the NYSE American Company Guide (the “Guide”), pursuant to which, the Exchange may, at any time, suspend dealings in, or remove, a security from listing when in its opinion such security is unsuitable for continued trading on the Exchange. In doing so, under Sections 1001, 1002(e), and 1003 of the Guide, the Exchange may consider any event or condition that makes further dealings on the Exchange unwarranted, including if the company and/or any of its management has engaged in operations, activity, or actions that are contrary to the public interest. In addition, under Section 1007 of the Guide, the Exchange may consider whether there are allegations of financial fraud or other illegality in relation to a company’s financial reporting and the resignation by a company’s independent auditor due to a disagreement.
