Company: NEGG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036055
Chunk: 187

Company: Newegg Commerce, Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 18
Chunk 187
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 value of the investment remained at $2.3million as of December 31,
2023. There was no impairment loss on Bitmain cost method investment for the years ended December 31, 2023.

  Accrued Liabilities  
 ───────────────────────

Accrued liabilities consisted of the
following (in thousands):

                                            As of              
                                     December 31,              
                                             2024              
 ───────────────────────────────────────────────────────────────
  Sales and other taxes payable           $13,417      13,874  
  Accrued personnel                         7,031      11,931  
  Allowance for sales returns               7,268       5,839  
  Accrued freight expense                   1,287       1,704  
  Accrued advertising expense               1,473       1,447  
  Accrued legal expense                     1,938         484  
  Accrued inventory                        12,228       2,338  
  Accrued professional expense                543       2,552  
  Accrued health expense                      414         767  
  Customer deposit                            667         669  
  Other                                     2,363       1,409  
  Total accrued liabilities               $48,629      43,014  

F-17

  Line of Credit  
 ──────────────────

In July 2018, the Company entered into
a credit agreement with several financial institutions that provided a revolving credit facility of up to $100.0million with a maturity
date ofJuly 27, 2021. In August 2021, the Company amended the credit agreement to extend the maturity date to August 20, 2024.
In April 2023, the Company amended the credit agreement in order to transition the benchmark rate for certain loans made under the credit
agreement from LIBOR to SOFR (as defined in the credit agreement). In August 2024, the Company further amended the credit agreement in
order to, among other things, (i) extend the maturity date toAugust 27, 2026, (ii) reduce the Maximum Revolving Advance Amount, as defined
in the credit agreement, to $40million from April 1 to September 30 of each year and to $50million from October 1 to March 31 of each
year and (iii) increase the unused commitment fee to0.20%. In