Company: NEGG
Filing Date: 2025-07-15
Form Type: 424B5
Source: 0001213900-25-063944
Chunk: 19

Company: Newegg Commerce, Inc.
Filing Date: 2025-07-15
Form: 424B5
Chunk 19
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 |   (2,300 | ) |
| Total shareholders’ equity                                                                                                                                                                                                           |     | $                       |  106,092 |   |     |             |  171,092 |   |
| Total capitalization                                                                                                                                                                                                                 |     | $                       |  128,350 |   |     |             |  193,350 |   |

The number of Common Shares outstanding as of December 31, 2024 excludes as of that date:

| ● | 1,657,852                                                                                         
 Common Shares issuable upon exercise of outstanding stock options under the Newegg 2005 Incentive 
 Award Plan at a weighted average exercise price of $14.02 per share;                              |

| ● | 64,437                                                                                   
 Common Shares issuable upon settlement of outstanding restricted stock unit awards under 
 the Newegg 2021 Equity Incentive Plan;                                                   |

| ● | 69,322                                                                                     
 Common Shares issuable upon settlement of outstanding performance-based vesting restricted 
 stock unit awards under the Newegg 2021 Equity Incentive Plan;                             |

| ● | 6,250                                                                                      
 Common Shares issuable upon exercise of a warrant owned by Hangzhou Lianluo at an exercise 
 price of $352.00 per share;                                                                |

| ● | 2,894,251                                                                            
 Common Shares remaining for issuance under the Newegg 2005 Incentive Award Plan; and |

| ● | 626,478                                                                           
 Common Shares remaining for issuance under the Newegg 2021 Equity Incentive Plan. |

<div align='center'>S-14

DILUTION</div>

Purchasers of Common Shares offered by this prospectus supplement and the accompanying prospectus will suffer immediate and substantial dilution in the net tangible book value per share. Our net tangible book value as of December 31, 2024 was approximately $106.1 million, or approximately $5.45 per share. Net tangible book value represents the amount of total tangible assets less total liabilities. Net tangible book value per share is calculated by dividing our net tangible book value by the number of Common Shares outstanding as of December 31, 2024.

After giving effect to the assumed sale of 1,794,588
Common Shares in the aggregate amount of approximately $65,000,000 at an assumed public offering price of $36.22 per share, which was
the last reported sale price of our Common Shares on Nasdaq on July 14,