Company: NEGG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036055
Chunk: 121

Company: Newegg Commerce, Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 10
Chunk 121
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Item 10. Additional Information

  Share Capital  
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Description of Shares

We are a company incorporated in the British Virgin
Islands with limited liability and our affairs are governed by our Amended and Restated Memorandum and Articles of Association, the Companies
Act, the common law of the British Virgin Islands, our corporate governance documents and rules and regulations of the stock exchange
on which our common shares are traded.

Rights and Obligations of Shareholders

Each of our common shares confers on its holder:

  the right to vote;  

  the right to an equal share in any dividend paid by the Company in accordance with the Companies Act; and  

  the right to an equal share in the distribution of the surplus of the Company.  

Voting Rights. Holders of common shares
shall at all times vote together as one class on all resolutions submitted to a vote by the shareholders. Each common share is entitled
to one (1) vote on all matters subject to vote at general meetings of the Company.

Dividends. The holders of shares are entitled
to such dividends as may be declared by the directors of the Company at such time and of such an amount as the directors think fit if
they are satisfied, on reasonable grounds, that immediately after the distribution, the value of Company assets exceeds the Company’s
liabilities and the Company will be able to pay its debts as they fall due.

Pre-emptive rights. Except as set forth
in the Amended Shareholders Agreement, there are no pre-emptive rights applicable to the issue by the Company of new shares under either
the Companies Act or our Amended and Restated Memorandum and Articles of Association.

Warrants

On April 28, 2016, the Company closed the sale
of warrants to purchase 6,250 of our common shares to Hangzhou Lianluo pursuant to the terms of a certain securities purchase agreement.
These warrants are exercisable at any time for an exercise price of $352.00 per share, with no expiration date. Share amounts and per
share amounts above have been retroactively adjusted for the twenty-for-one share combination, effective April 7, 2025. See Note 1 of
the consolidated financial statements.

  Memorandum and Articles of Association  
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We are incorporated in the British Virgin Islands
and have been assigned company number 553525 in the Register of Companies in the BVI. Our registered office is