Company: NEGG
Filing Date: 2025-07-15
Form Type: 424B5
Source: 0001213900-25-063944
Chunk: 10

Company: Newegg Commerce, Inc.
Filing Date: 2025-07-15
Form: 424B5
Chunk 10
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headings “Rights of Certain Principal Shareholders” and “Requirements of Board
Approval on Certain Matters.”

BOC or EWB could sell, or force Digital Grid or
Tekhill respectively to sell, some or all of its Common Shares while the BOC or EWB loans respectively remain delinquent or in default.
Mr. Chang or Hangzhou Lianluo could also choose to voluntarily sell some or all of his or its shares at any time to satisfy outstanding
loans or for other reasons. Sales of Common Shares owned or pledged by Mr. Chang, Digital Grid or Hangzhou Lianluo, including for the
payment of financial or settlement obligations to EWB, BOC or other lenders, could cause the market price of the Common Shares to drop
significantly. In particular, any such sale or attempted sale could:

| ● | occur at a significant discount to our quoted trading price and over a short time period; |

| ● | result in the loss of minority protective rights currently held by the “Minority Representative” (as defined in the Company’s Amended and Restated Memorandum and Articles of Association); |

| ● | result in a change of control of us; or |

| ● | result in litigation over the ownership and title to those shares. |

Each of these risks could cause our share price to fall significantly.

<div align='center'>S-7</div>

If you purchase Common Shares sold in this offering, you may experience immediate and substantial dilution in the net tangible book value of your Common Shares. In addition, we may issue additional equity or convertible debt securities in the future, which may result in additional dilution to investors.

The price per share of our Common Shares being
offered may be higher than the net tangible book value per share prior to this offering. Assuming that an aggregate of 1,794,588 Common
Shares are sold at a price of $36.22 per share, the last reported sale price of our Common Shares on Nasdaq on July 14, 2025, for aggregate
gross proceeds of approximately $65,000,000, and after deducting commissions and estimated offering expenses payable by us, new investors
in this offering would incur immediate dilution of $28.28 per share. Assuming that an aggregate of 1,000,000 Common Shares, the maximum
number of Common Shares authorized for sale by our board of directors as of the date of this prospectus supplement, are sold at a price
of $36.