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ContextLogic Files Definitive Proxy Statement Regarding Proposed Transaction With Qoo10

ContextLogic Files Definitive Proxy Statement Regarding Proposed Transaction With Qoo10

ContextLogic提交了有关与Qoo10的拟议交易的最终代理声明
GlobeNewswire ·  03/18 20:00

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WISH Proxy Infographic
WISH 代理信息图

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WISH Proxy Infographic
WISH 代理信息图

Board Unanimously Recommends Stockholders Vote "FOR" Pending Transaction with Qoo10 and Ensure the Preservation of $2.7 Billion of NOLs

董事会一致建议股东对 Qoo10 的待处理交易投赞成票,并确保保留 27 亿美元的 NOL

Stockholders to Receive Proxy Materials in Coming Days to Vote and Approve Transaction

股东将在未来几天内收到代理材料以投票和批准交易

Special Meeting to be Held on April 12, 2024

特别会议将于2024年4月12日举行

SAN FRANCISCO, March 18, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH) ("ContextLogic" or the "Company") today announced that a special meeting of its stockholders has been called to consider and vote on its proposed transaction with Qoo10 Pte. Ltd. ("Qoo10"), among other related proposals (the "Special Meeting"). As previously announced on February 12, 2024, a Qoo10 wholly owned subsidiary (the "Buyer") will acquire substantially all of the Company's operating assets and liabilities, principally comprising its Wish ecommerce platform (the "Asset Sale"), for approximately $173 million in cash, subject to certain purchase price adjustments. Taking into account the Company's current estimates of the impact of those purchase price adjustments, the Company estimates that ContextLogic's cash on hand (including the net proceeds from the Asset Sale) would be approximately $150 million to $157 million if the Asset Sale closes on or about April 16, 2024.

旧金山,2024年3月18日(环球新闻专线)——ContextLogic Inc.(d/b/a Wish)(纳斯达克股票代码:WISH)(“ContextLogic” 或 “公司”)今天宣布,已召开股东特别会议,以审议其与Qoo10 Pte的拟议交易并进行投票。有限公司(“Qoo10”),以及其他相关提案(“特别会议”)。正如先前在2024年2月12日宣布的那样,Qoo10全资子公司(“买方”)将以约1.73亿美元的现金收购公司的几乎所有运营资产和负债,主要包括其Wish电子商务平台(“资产出售”),但须进行某些收购价格调整。考虑到公司目前对这些收购价格调整影响的估计,如果资产出售在2024年4月16日左右结束,ContextLogic的手头现金(包括资产出售的净收益)将约为1.5亿美元至1.57亿美元。

The Special Meeting will be held virtually on April 12, 2024 at 10 a.m. Pacific time, and ContextLogic stockholders of record at the close of business on March 7, 2024 are entitled to vote at or in advance of the Special Meeting. The ContextLogic Board of Directors (the "Board") unanimously recommends that ContextLogic stockholders vote "FOR" all proposals to be voted on at the Special Meeting.

特别会议将于太平洋时间2024年4月12日上午10点虚拟举行,2024年3月7日营业结束时的登记在册的ContextLogic股东有权在特别会议上或之前进行投票。ContextLogic董事会(“董事会”)一致建议ContextLogic股东对将在特别会议上表决的所有提案投赞成票。

Following the close of the Asset Sale, ContextLogic will have limited operating expenses and a balance sheet that will be debt-free and will include net cash proceeds from the Asset Sale, approximately $2.7 billion of Net Operating Losses ("NOLs") carryforwards and certain retained assets. The Board intends to use the proceeds from the transaction to help utilize its NOLs. The Board also intends to explore the opportunity for a financial sponsor to help ContextLogic realize the value of its tax assets.

资产出售结束后,ContextLogic的运营支出将有限,资产负债表将保持无债务状态,并将包括资产出售的净现金收益、约27亿美元的净营业亏损(“NOL”)结转和某些留存资产。董事会打算将交易的收益用于帮助利用其NOL。董事会还打算探索财务发起人帮助ContextLogic实现其税收资产价值的机会。

The Board is unanimous in its view that the proposed sale of the Company's operating assets and liabilities, while preserving the significant NOLs and certain other tax attributes, represents the best path forward to maximize value for ContextLogic stockholders. The Company's post-closing Board will conduct a careful and extensive review of available opportunities for the Company's NOLs and certain other tax attributes, and there is no set timeframe for completing the exploration of alternatives. The expectation is that, after that review has run its course, the Board will authorize the Company to distribute its cash to stockholders if the Board eventually determines that it will be unable to utilize the NOLs and certain other tax attributes.

董事会一致认为,拟议出售公司的运营资产和负债,同时保留重要的NOL和某些其他税收属性,是ContextLogic股东实现价值最大化的最佳途径。公司收盘后董事会将对公司NOL和某些其他税收属性的可用机会进行仔细而广泛的审查,并且没有确定完成替代方案探索的时间表。预计在审查结束后,如果董事会最终确定公司将无法使用NOL和某些其他税收属性,则董事会将授权公司向股东分配现金。

The Company expects to complete the transaction in the second quarter of 2024, subject to the approval of ContextLogic's stockholders and other customary closing conditions. To facilitate the solicitation of proxies in connection with the Special Meeting, the Company has filed definitive proxy materials with the U.S. Securities and Exchange Commission (the "SEC").

该公司预计将在2024年第二季度完成交易,但须获得ContextLogic股东的批准和其他惯例成交条件。为了便于征集与特别会议有关的代理人,公司已向美国证券交易委员会(“SEC”)提交了最终的代理材料。

The ContextLogic Board mailed the following to stockholders:

ContextLogic董事会向股东邮寄了以下信息:

For more information on the transaction, please visit ir.wish.com/.

有关该交易的更多信息,请访问 ir.wish.com/

About Wish
Wish brings an affordable and entertaining shopping experience to millions of consumers around the world. Since our founding in San Francisco in 2010, we have become one of the largest global ecommerce platforms, connecting millions of value-conscious consumers to hundreds of thousands of merchants globally. Wish combines technology and data science capabilities and an innovative discovery-based mobile shopping experience to create a highly-visual, entertaining, and personalized shopping experience for its users. For more information about the company or to download the Wish mobile app, visit or follow @Wish on Facebook, Instagram and TikTok or @WishShopping on X (formerly Twitter) and YouTube.

关于 Wish
Wish 为全球数百万消费者带来了经济实惠且有趣的购物体验。自2010年在旧金山成立以来,我们已成为全球最大的电子商务平台之一,将数百万注重价值的消费者与全球成千上万的商家联系起来。Wish 将技术和数据科学能力与基于发现的创新移动购物体验相结合,为其用户创造了高度可视化、娱乐性和个性化的购物体验。有关该公司的更多信息或下载 Wish 移动应用程序,请在脸书、Instagram 和抖音上访问或关注 @Wish,或者在 X(前身为推特)和 YouTube 上访问或关注 @WishShopping。

Additional Information and Where to Find It

其他信息以及在哪里可以找到

In connection with the Asset Sale, the Company has filed with the SEC, and will furnish to the Company's stockholders, a definitive proxy statement, and other relevant documents pertaining to the transactions contemplated by the asset purchase agreement with the Buyer and Qoo10 (the "Transactions"). Stockholders of the Company are urged to read the definitive proxy statement and other relevant documents carefully and in their entirety because they contain important information about the Transactions. Stockholders of the Company may obtain the definitive proxy statement and other relevant documents filed with the SEC free of charge at the SEC's website at www.sec.gov or by directing a request to ContextLogic Inc., One Sansome Street, 33rd Floor, San Francisco, California 94104, Attention: Ralph Fong.

关于资产出售,公司已向美国证券交易委员会提交了文件,并将向公司股东提供一份最终委托书以及与买方和Qoo10签订的资产购买协议(“交易”)所设想的交易(“交易”)有关的其他相关文件。我们敦促公司的股东仔细完整地阅读最终委托书和其他相关文件,因为它们包含有关交易的重要信息。本公司的股东可以在美国证券交易委员会网站www.sec.gov上免费获得向美国证券交易委员会提交的最终委托书和其他相关文件,也可以向位于加利福尼亚州旧金山桑索姆街一号33楼的ContextLogic Inc.提出请求94104,收件人:Ralph Fong。

Participants in the Solicitation

招标参与者

The directors, executive officers and certain other members of management and employees of the Company are "participants" in the solicitation of proxies from stockholders of the Company in favor of the Transactions. Information regarding the persons who, under the rules of the SEC, are participants in the solicitation of the stockholders of the Company in connection with the Transactions, including a description of their direct or indirect interests in the Transactions, by security holdings or otherwise, are set forth in the definitive proxy statement filed by the Company with the SEC. Information regarding the Company's directors and executive officers, their ownership of Company stock, and the Company's transactions with related parties is contained in the sections entitled "Directors, Executive Officers, and Corporate Governance," "Security Ownership of Certain Beneficial Owners and Management," and "Certain Relationships and Related Party Transactions" in the Company's definitive proxy statement on Schedule 14A for the Company's 2023 Annual Meeting of Stockholders, which was filed with the SEC on March 9, 2023 (and which is available at https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001822250/000114036123010911/ny20006182x2_def14a.htm), in the Company's Current Report on Form 8-K filed with the SEC on April 11, 2023 (and which is available at https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001822250/000095017023012442/wish-20230410.htm), and in the Company's Current Report on Form 8-K filed with the SEC on December 1, 2023 (and which is available at https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001822250/000095017023067343/wish-20231129.htm). To the extent holdings of Company securities by the directors and executive officers of the Company have changed from the amounts of securities of the Company held by such persons as reflected therein, such changes have been or will be reflected on Statements of Change in Ownership on Forms 3 or Forms 4 filed with the SEC. These documents can be obtained free of charge from the sources indicated in the previous section. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is contained in the definitive proxy statement filed with the SEC.

公司的董事、执行官和某些其他管理层成员和员工是 “参与者”,参与向公司股东征集支持交易的代理人。公司向美国证券交易委员会提交的最终委托书中列出了根据美国证券交易委员会的规定参与公司股东招募的人员的信息,包括对他们在交易中的直接或间接权益、通过证券持股或其他方式的描述。有关公司董事和执行官、他们对公司股票的所有权以及公司与关联方交易的信息包含在公司于2023年3月9日向美国证券交易委员会提交的公司2023年年度股东大会的最终委托书中标题为 “董事、执行官和公司治理”、“某些受益所有人和管理层的担保所有权” 以及 “某些关系和关联方交易” 的章节中(并可在以下网址获得https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001822250/000114036123010911/ny20006182x2_def14a.htm),载于公司于2023年4月11日向美国证券交易委员会提交的关于8-K表的最新报告(可在 https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001822250/000095017023012442/wish-20230410.htm 上查阅),以及公司于2023年12月1日向美国证券交易委员会提交的关于8-K表的最新报告(可在以下网址查阅)中。https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001822250/000095017023067343/wish-20231129.htm如果公司董事和执行官持有的公司证券与其所反映的公司证券金额有所变化,则此类变化已经或将反映在向美国证券交易委员会提交的表格3或表格4的所有权变更声明中。这些文件可以从上一节中指出的来源免费获得。向美国证券交易委员会提交的最终委托书中包含有关代理招标参与者的其他信息,以及对他们通过证券持股或其他方式产生的直接和间接利益的描述。

Forward Looking Statements

前瞻性陈述

Except for historical information, all other information in this communication consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and related oral statements the Company, Qoo10 or the Buyer may make, are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. For example, (1) conditions to the closing of the transaction may not be satisfied, (2) the timing of completion of the transaction is uncertain, (3) the amount of the purchase price adjustment under the asset purchase agreement with the Buyer and Qoo10 is uncertain and may be material, (4) the amount of that purchase price adjustment could be adversely affected by any delays in closing the transaction, including delays in obtaining the stockholder vote at the Special Meeting, (5) there can be no assurance as to the extent to which the post-closing Company will find opportunities to utilize the NOLs, and when any such utilization will occur, (6) the business of the Company may suffer as a result of uncertainty surrounding the transaction, (7) events, changes or other circumstances could occur that could give rise to the termination of the asset purchase agreement with the Buyer and Qoo10, (8) there are risks related to the disruption of management's attention from the ongoing business operations of the Company due to the transaction, (9) the announcement or pendency of the transaction could affect the relationships of the Company with its clients, operating results and business generally, including on the ability of the Company to retain employees, (10) the outcome of any legal proceedings initiated against the Company, Qoo10 or the Buyer following the announcement of the transaction could adversely affect the Company, Qoo10 or the Buyer, including the ability of each to consummate the transaction, and (11) the Company may be adversely affected by other economic, business, and/or competitive factors, as well as management's response to any of the aforementioned factors.

除历史信息外,本通信中的所有其他信息均包含经修订的1933年《证券法》第27A条和经修订的1934年《证券交易法》第21E条所指的前瞻性陈述。这些前瞻性陈述以及公司、Qoo10或买方可能做出的相关口头陈述存在风险和不确定性,可能导致实际业绩与预期、预期或暗示的结果存在重大差异。例如,(1)交易完成的条件可能无法满足,(2)交易完成的时间不确定,(3)与买方和Qoo10签订的资产购买协议下的收购价格调整金额不确定且可能很重要,(4)收购价格调整金额可能会受到交易延迟(包括延迟在特别会议上获得股东投票)的不利影响,(5) 无法保证收盘后公司将在多大程度上保证寻找使用NOL的机会,以及何时使用NOL,(6)由于交易的不确定性,公司的业务可能会受到影响,(7)可能导致与买方和Qoo10的资产购买协议终止的事件、变化或其他情况,(8)存在与交易导致管理层对公司持续业务运营的注意力中断相关的风险,(9)存在风险,(9))交易的公告或待定状态可能会影响以下各方的关系公司及其客户、经营业绩和总体业务,包括公司留住员工的能力,(10) 交易宣布后对公司、Qoo10或买方提起的任何法律诉讼的结果都可能对公司、Qoo10或买方产生不利影响,包括双方完成交易的能力,以及 (11) 公司可能受到其他经济、业务和/或竞争因素的不利影响,以及作为管理层对上述任何因素的回应。

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere, including the risk factors included in the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents of the Company on file with the SEC. Neither the Company nor Qoo10 or the Buyer undertakes any obligation to update, correct or otherwise revise any forward-looking statements. All subsequent written and oral forward-looking statements attributable to the Company, Qoo10 or the Buyer and/or any person acting on behalf of any of them are expressly qualified in their entirety by this paragraph.

不应将上述对重要因素的审查解释为详尽无遗,应与本文和其他地方包含的其他警示声明一起阅读,包括公司最新的10-K表年度报告和10-Q表季度报告以及公司向美国证券交易委员会存档的其他文件中包含的风险因素。公司、Qoo10或买方均不承担任何更新、更正或以其他方式修改任何前瞻性陈述的义务。本段明确规定了随后归因于公司、Qoo10或买方和/或代表其中任何人行事的所有书面和口头前瞻性陈述。

Contacts

联系人

Investor Relations:
Ralph Fong, Wish
ir@wish.com

投资者关系:
Ralph Fong,Wish
ir@wish.com

Media:
Carys Comerford-Green, Wish
press@wish.com

媒体:
Carys Comerford-Green,Wish
press@wish.com

Nick Lamplough / Dan Moore / Jack Kelleher, Collected Strategies
WISH-CS@collectedstrategies.com

Nick Lamplough/Dan Moore/Jack Kelleher,策略汇编
WISH-CS@collectedstrategies.com

A PDF accompanying this announcement is available at

本公告附带的 PDF 可在以下网址获得

Photos accompanying this announcement are available at

本公告附带的照片可在以下网址获得


译文内容由第三方软件翻译。


以上内容仅用作资讯或教育之目的,不构成与富途相关的任何投资建议。富途竭力但不能保证上述全部内容的真实性、准确性和原创性。
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