Company: NEGG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036055
Chunk: 51

Company: Newegg Commerce, Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 51
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) the act complained of, although not beyond the scope of the authority, could
only be effected if duly authorized by more than the number of votes which have actually been obtained; (iii) the individual rights of
the plaintiff shareholder have been infringed or are about to be infringed; or (iv) those who control the company are perpetrating a “fraud
on the minority.”

These rights may be more limited than the rights
afforded to our shareholders under the laws of states in the United States.

Under the Companies Act, members of the general
public, on payment of a nominal fee, can obtain copies of the public records of a company available at the office of the Registrar which
will include the company’s certificate of incorporation, its memorandum and articles of association (with any amendments) and records
of license fees paid to date and will also disclose any articles of dissolution, articles of merger and a register of charges if the company
has elected to file such a register.

A member of a company is entitled, on giving written
notice to the company, to inspect:

  the memorandum and articles;  

  the register of members;  

  the register of directors; and  

  the minutes of meetings and resolutions of members and of those classes of members of which he is a member; and to make copies of or take extracts from the documents and records referred to in ...  

Subject to the memorandum and articles of association,
the directors may, if they are satisfied that it would be contrary to the company’s interests to allow a member to inspect any document,
or part of a document, specified in (b), (c) or (d) above, refuse to permit the member to inspect the document or limit the inspection
of the document, including limiting the making of copies or the taking of extracts from the records. Where a company fails or refuses
to permit a member to inspect a document or permits a member to inspect a document subject to limitations, that member may apply to the
BVI Court for an order that he or she should be permitted to inspect the document or to inspect the document without limitation.

This may make it more difficult for you to obtain
the information needed to establish any facts necessary for a shareholder motion or to solicit proxies from other shareholders in connection
with a proxy contest.

As a result of all of the above, our public shareholders
may have more difficulty in protecting their interests in the face of actions taken by our management, members of the Board or controlling
shareholders than they