NEGG: Galkins Boost Stake to 17.1% with $60.6M Insider Buying

Rhea-AI Filing Summary

Amendment No. 7 to Schedule 13D filed 07/29/2025 discloses that Vladimir and Angelica Galkin now jointly own 3,333,333 Newegg Commerce (NEGG) common shares, equal to 17.1 % of the 19,478,394 shares reported outstanding in the issuer’s 2024 Form 20-F.

The couple received 2,222,222 shares on 07/10/2025 from the Galkin Revocable Trust and subsequently purchased an additional 1,111,111 shares with personal investment capital. Aggregate cash outlay totals $60.55 million for 3,494,607 shares acquired, partially offset by $2.39 million in proceeds from the open-market sale of 161,274 shares, leaving the current net position of 3.33 million shares.

All 3.33 million shares are held in a joint, non-margin, non-pledged account; the Galkins share voting and dispositive power. No other parties hold dividend or sale rights. Exhibits include the joint filing agreement and a detailed transaction schedule for the past 60 days.

Positive

• Ownership rises to 17.1 % with 3.33 m shares
• Additional 1.11 m shares purchased using personal funds
• Joint account is unlevered and unpledged, reducing liquidity risk

Negative

• 161,274 shares sold for $2.39 m during period

Insights

Equity Ownership Analyst

TL;DR: Galkins lift joint NEGG stake to 17.1 %, funding purchases with personal cash and no leverage—signalling strong insider confidence.

The filing shows a rapid accumulation: 1.11 m shares bought after transferring 2.22 m shares from a trust, taking the couple to 3.33 m shares. At ~$60.6 m gross spend, the average cost is about $17.34 per share, implying conviction at recent trading levels. The absence of margin pledges lowers forced-sale risk, a positive for minority holders. Although they did sell 161 k shares, net buying dominates. With >17 % of stock, the Galkins are now a significant minority holder capable of influencing strategic decisions, yet no change-of-control intent is stated. Overall impact is moderately positive as insider buying often aligns interests with shareholders.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many NEGG shares do Vladimir and Angelica Galkin now own?

They jointly hold 3,333,333 common shares, representing 17.1 % of shares outstanding.

What was the total cash outlay for the Galkins' NEGG purchases?

They spent approximately $60.55 million to acquire 3,494,607 shares.

Did the Galkins use margin debt to finance their stake?

No. The joint account holding the shares is not in a margin account and is not pledged as collateral.

Were any shares sold during the reporting period?

Yes. They sold 161,274 shares for roughly $2.39 million in open-market transactions.

What percentage of NEGG’s outstanding shares does the Galkin stake represent?

Their 3.33 million shares equal 17.1 % of the 19,478,394 shares outstanding.

Does any other party have rights to the Galkins' NEGG shares?

No. Only the Galkins have dividend and disposition rights over the shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/29/2025 - 02:10 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)

Newegg Commerce, Inc.

(Name of Issuer)

Common Shares par value $0.43696

(Title of Class of Securities)

G6483G100

(CUSIP Number)

Vladimir Galkin
10900 NW 97th Street, #102,
Miami, FL, 33178
(310) 880-6330

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

07/29/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. G6483G100

1

Name of reporting person

Galkin Vladimir

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,333,333.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,333,333.00

11

Aggregate amount beneficially owned by each reporting person

3,333,333.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

17.1 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

The shares of Common Stock are held jointly by Vladimir Galkin and Angelica Galkin, husband and wife. Vladimir Galkin and Angelica Galkin have shared voting power and dispositive power over 3,333,333 shares of Common Stock.

SCHEDULE 13D

CUSIP No. G6483G100

1

Name of reporting person

Galkin Angelica

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,333,333.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,333,333.00

11

Aggregate amount beneficially owned by each reporting person

3,333,333.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

17.1 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

The shares of Common Stock are held jointly by Vladimir Galkin and Angelica Galkin, husband and wife. Vladimir Galkin and Angelica Galkin have shared voting power and dispositive power over 3,333,333 shares of Common Stock.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares par value $0.43696
(b)	Name of Issuer: Newegg Commerce, Inc.
(c)	Address of Issuer's Principal Executive Offices: 17560 ROWLAND STREET, CITY OF INDUSTRY, CALIFORNIA , 91748.
Item 1 Comment: This Amendment No. 7 amends the Schedule 13D filed on July 1, 2025 (the "Original Schedule 13D, and as amended by Amendment No. 1 filed on July 10, 2025, and as amended by Amendment No. 2 to Schedule 13D filed on July 14, 2025, and as amended by Amendment No. 3 to Schedule 13D filed on July 15, 2025, and as amended by Amendment No. 4 to Schedule 13D filed on July 16, 2025, and as amended by Amendment No. 5 to Schedule 13D filed on July 17, 2025, and as amended by Amendment No. 6 to Schedule 13D filed on July 18, 2025, as amended the "Schedule 13D"). This statement of beneficial ownership on Schedule 13D is jointly filed by Vladimir Galkin and Angelica Galkin, husband and wife, each a citizen of the United States of America (collectively, the "Reporting Persons" and individually, a "Reporting Person"), with respect to the shares of the common stock, par value $0.43696 per share (the " Common Stock"), of Newegg Commerce, Inc., a British Virgin Islands corporation (the " Issuer"), is hereby amended to furnish the additional information set forth herein. The address of the principal executive offices of the Issuer is 21688 Gateway Center Drive, Suite 300, Diamond Bar, CA 91765. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in Schedule 13D.
Item 3.	Source and Amount of Funds or Other Consideration
	Originally, the Galkin Revocable Trust used cash from its capital account and margin account borrowings made in the ordinary course of business to make the purchases of 2,222,222 shares of Common Stock. Provided, however, on July 10, 2025, the Galkin Revocable Trust transferred 2,222,222 shares of Common Stock (representing all of its shares of Common Stock) to a joint account held by Vladimir Galkin and Angelica Galkin (together, the Galkins). Thereafter, the Galkins used their own investment capital to purchase an additional 1,111,111 shares of Common Stock, resulting in aggregate ownership of 3,333,333 shares of Common Stock. The positions held in the Galkins' joint account are not held in a margin account or pledged as collateral security for the repayment of debit balances in the account. A total of approximately i) $60,551,213 was paid to acquire 3,494,607 shares of Common Stock; and ii)$2,387,051 was received as payment for the sale of 161,274 shares of Common Stock reported herein (resulting in ownership of an aggregate net total of 3,333,333 shares of Common Stock). (Since other securities were held in the margin accounts of the Galkin Revocable Trust, it is not possible to determine the amounts, if any, of margin used originally to purchase the shares of Common Stock reported herein.)
Item 5.	Interest in Securities of the Issuer
(a)	As of the date hereof, each of Vladimir Galkin and Angelica Galkin may be deemed to beneficially own, in the aggregate, 3,333,333 shares of Common Stock, representing approximately 17.1% of the outstanding shares of Common Stock of Issuer.
(b)	The foregoing beneficial ownership percentages reported in this Item 5 are based upon 19,478,394 shares of Common Stock of the Issuer outstanding as of December 31, 2024, as reported in the Issuer's Annual Report on Form 20-F for the year ended December 31, 2024, and filed by the Issuer with the Securities and Exchange Commission on April 28, 2025.
(c)	See Rows 7-10 of the cover page for information regarding the power to vote or direct the vote and the power to dispose or direct the disposition of the shares of Common Stock by each of the Reporting Persons.
(d)	All the transactions involving shares of Common Stock effected during the past sixty (60) days by any of the Reporting Persons, which were all in the open market, are set forth in Schedule A, and are incorporated herein by reference. Except as otherwise noted below, all such transactions were purchases and sales of shares of Common Stock effected in the open market, and the table includes commissions paid in per share prices.
(e)	Not Applicable
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	No person other than a Reporting Person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, Common Stock beneficially owned by the Reporting Persons.
Item 7.	Material to be Filed as Exhibits.
	1. Schedule A 2. Exhibit A - Joint Filing Agreement of the Reporting Persons.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Galkin Vladimir

Signature:	Vladimir Galkin
Name/Title:	Individual
Date:	07/29/2025

Galkin Angelica

Signature:	Angelica Galkin
Name/Title:	Individual
Date:	07/29/2025