ContextLogic Inc., operating as Wish and listed on NASDAQ under the ticker WISH, has issued a reminder for its stockholders to vote on a proposed asset sale to Qoo10 Pte. Ltd., a Singapore-based company. The special stockholders' meeting is scheduled for April 12, 2024, with an electronic voting deadline set for April 11, 2024. The Board of Directors recommends approval of the transaction, which would allow ContextLogic to retain approximately $2.7 billion in net operating loss carryforwards. The asset sale, if approved, is expected to close on April 16, 2024, with the company estimating post-closing cash to be between $150-157 million. The transaction has received favorable recommendations from proxy advisory firms ISS, Glass Lewis, and Egan-Jones. The company's leadership plans to maximize the value of its tax assets post-transaction. The completion of the deal is anticipated in the second quarter of 2024, subject to stockholder approval and customary closing conditions.

ContextLogic Inc., operating as Wish and listed on NASDAQ under the ticker WISH, has issued a reminder for its stockholders to vote on a proposed asset sale to Qoo10 Pte. Ltd., a Singapore-based company. The special stockholders' meeting is scheduled for April 12, 2024, with an electronic voting deadline set for April 11, 2024. The Board of Directors recommends approval of the transaction, which would allow ContextLogic to retain approximately $2.7 billion in net operating loss carryforwards. The asset sale, if approved, is expected to close on April 16, 2024, with the company estimating post-closing cash to be between $150-157 million. The transaction has received favorable recommendations from proxy advisory firms ISS, Glass Lewis, and Egan-Jones. The company's leadership plans to maximize the value of its tax assets post-transaction. The completion of the deal is anticipated in the second quarter of 2024, subject to stockholder approval and customary closing conditions.