Newegg Commerce board approves $10M share repurchase program

The Company announced that its board of directors approved a new share repurchase program to purchase up to $10M of its outstanding common shares, effective immediately. Newegg expects to fund repurchases with a combination of existing cash and cash equivalents and cash flows from operations. As of June 30, 2023, Newegg had cash and cash equivalents of $51.8 million.