Company: NEGG
Filing Date: 2025-07-15
Form Type: 424B5
Source: 0001213900-25-063944
Chunk: 0

Company: Newegg Commerce, Inc.
Filing Date: 2025-07-15
Form: 424B5
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Filed Pursuant to Rule 424(b)(5)

Registration No. 333-265985

PROSPECTUS SUPPLEMENT
(To prospectus dated October 5, 2022)

<div align='center'>Newegg Commerce, Inc.

Up to $65,000,000 of

Common Shares</div>

We have entered into a Sales Agreement, dated July
15, 2025 (the “Sales Agreement”), with Needham & Company, LLC (the “Agent”) relating to sales of our common
shares, par value $0.43696 (the “Common Shares”), offered by this prospectus supplement and the accompanying prospectus. In
accordance with the terms of the Sales Agreement, pursuant to this prospectus supplement, we may offer and sell Common Shares having an
aggregate offering price of up to $65,000,000 from time to time through the Agent.

Hangzhou Liaison Interactive Information
Technology Co., Limited (“Hangzhou Lianluo”) beneficially owns 57.3% of the voting power of our issued and outstanding
Common Shares as of June 30, 2025, substantially all of which are subject to foreclosure at any time by the Bank of China
(“BOC”) to repay delinquent loans and letters of credit provided by BOC to Hangzhou Lianluo. BOC is a state-owned
enterprise and ultimately controlled by the People’s Republic of China. If BOC were to foreclose upon such Common Shares, it
could sell them at a significant discount and BOC could become the controlling and majority shareholder of our Company. In
addition, our second largest shareholder, Mr. Fred Chang, has pledged 1,937,592 Common Shares beneficially owned by him to East West
Bank (“EWB”) as collateral to support loans provided by EWB to Mr. Chang’s affiliate. If EWB foreclosed upon these
shares, it could sell them at a significant discount and Mr. Chang could lose certain governance rights he has in Newegg. Please see
“Risk Factors — A majority of our outstanding Common Shares are pledged as collateral
to support delinquent indebtedness of our shareholders and could be sold to satisfy that indebtedness or for other reasons, which could
lead to a significant decline in our share price and changes in our governance.” for additional information.

Our Common Shares are listed on the Nasdaq Capital
Market (“Nasdaq”) under the symbol “NEGG.” On July 14