Company: NEGG
Filing Date: 2025-07-15
Form Type: 424B5
Source: 0001213900-25-063944
Chunk: 34

Company: Newegg Commerce, Inc.
Filing Date: 2025-07-15
Form: 424B5
Chunk 34
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 After  
 the Offered  
 Common       
 Shares are   
 Sold         |             |     | Percentage   
 of Common    
 Shares       
 Beneficially 
 Owned        
 After the    
 Common       
 Shares are   
 Sold         |      |   |
| Digital Grid (Hong Kong) Technology 
 Co., Limited                        |     |              | 231,949,382 |     |         | 60,000,000 |     |              | 171,949,382 |     |              | 45.7 | % |

Digital Grid (Hong Kong) Technology Co.,
Limited (“Digital Grid”), is a limited liability company organized under the laws of Hong Kong. Its business address is Room
1003, 10/F, Tower 1, Lippo Centre, 89 Queensway, Admiralty, Hong Kong. Its beneficially owned Common Shares are comprised of (i) 222,821,592
Common Shares owned by Digital Grid, (ii) 473,388 Common Shares and warrants to purchase 125,000 Common Shares at an exercise price of
$17.60/share owned by Hangzhou Liaison Interactive Information Technology Co., Ltd. (“Hangzhou Lianluo”), a company organized
under the laws of the People’s Republic of China, which is the parent company of Digital Grid; (iii) 58,937 Common Shares owned
by Hyperfinite Galaxy Holding Limited, a company solely owned by Mr. Zhitao He, who is the Chairman of our Board of Directors and the
controlling stockholder of Hangzhou Lianluo and (iv) vested stock options exercisable for 8,470,465 Common Shares at an exercise price
of $0.5478/share held by Mr. Zhitao He. All of those persons are affiliated with each other and under the control of Mr. Zhitao He.

The Common Shares owned by Digital Grid have
been pledged to the Bank of China (“BOC”) as collateral to support working capital loans and letters of credit provided by
BOC to Digital Grid, Hangzhou Lianluo and their affiliates (other than Newegg). The loans have been guaranteed jointly and severally
by Beijing Digital Grid Technology Co., Ltd., a wholly-owned subsidiary of Hangzhou Lianluo and the sole parent company of Digital Grid,
and by Mr. Zhitao He. In May 2020, BOC filed several lawsuits against Hangzhou Lianluo, Digital Grid, Beijing Digital Grid Technology
Co., Ltd. and