ContextLogic Inc., operating as Wish and listed on NASDAQ under the ticker WISH, has issued a reminder to its stockholders to vote in favor of a proposed asset sale to Qoo10 Pte. Ltd. The vote is set to take place at a Special Meeting scheduled for April 18, 2024, at 11:30 a.m. Pacific Time. Stockholders on record as of March 7, 2024, are eligible to vote. The company emphasizes the importance of each vote, stating that the transaction with Qoo10 represents the best path forward to preserve and maximize stockholder value. If approved, ContextLogic will continue as a publicly traded entity, leveraging approximately $2.7 billion in net operating loss carryforwards. The company has also announced that, upon completion of the asset sale, it expects to trade under...Show More

ContextLogic Inc., operating as Wish and listed on NASDAQ under the ticker WISH, has issued a reminder to its stockholders to vote in favor of a proposed asset sale to Qoo10 Pte. Ltd. The vote is set to take place at a Special Meeting scheduled for April 18, 2024, at 11:30 a.m. Pacific Time. Stockholders on record as of March 7, 2024, are eligible to vote. The company emphasizes the importance of each vote, stating that the transaction with Qoo10 represents the best path forward to preserve and maximize stockholder value. If approved, ContextLogic will continue as a publicly traded entity, leveraging approximately $2.7 billion in net operating loss carryforwards. The company has also announced that, upon completion of the asset sale, it expects to trade under a new Nasdaq ticker symbol, 'LOGC'. The press release, which was first made available on April 17, 2024, also provides information on electronic voting procedures and deadlines, urging stockholders to vote 'FOR' the asset sale immediately. ContextLogic, founded in 2010, is known for providing an affordable and entertaining shopping experience through its global e-commerce platform.