Company: NEGG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036055
Chunk: 118

Company: Newegg Commerce, Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 7
Chunk 118
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 held by Tekhill USA, LLC, (ii) 457,928 Common Shares held by Nabal Spring, LLC, and (iii) vested stock options exercisable for 397,236 Common Shares at ...  

Tekhill USA, LLC previously pledged
1,635,676 Common Shares as collateral to Preferred Bank, securing a loan from Preferred Bank to Fred Chang with a principal amount of
$7.1 million. In early 2022, this loan was paid off and the pledge of common shares was released. Contemporaneously, Fred Chang entered
into a new loan with East West Bank, pursuant to which Tekhill USA, LLC pledged a total of 910,415 common shares as collateral to East
West Bank to secure a loan from East West Bank to Fred Chang with a principal amount of $15.0 million.

  (3)      Comprised of (i) 154,520 Common Shares, (ii) vested stock options exercisable for 541,938 Common Shares, and (iii) restricted stock units representing the right to receive 5,120 Common Shares u...  

  (4)      Comprised of Common Shares                                                                                                                                                              
  (5)      Comprised of (i) 4,405 Common Shares and (ii) restricted stock units representing the right to receive 276 Common Shares upon vesting that will vest within 60 days of March 31, 2025.  

  (6)      Comprised of (i) 2,209 Common Shares and (ii) vested stock options exercisable for 17,676 Common Shares. The exercise price for all of these stock options is $10.95/share.  

All 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.

Rights of Certain Principal Shareholders