ContextLogic Advocates for Stockholder Approval of Qoo10 Transaction

ContextLogic Inc. WISH, the mobile e-commerce platform that operates globally, has recently announced the filing of its proxy statement with the SEC. The definitive proxy statement is integral for the forthcoming special meeting where shareholders will vote on the proposed transaction with Qoo10, a leading e-commerce platform in Asia. This proposed deal is anticipated to be highly beneficial as it aims to preserve ContextLogic's significant net operating losses (NOLs), valued at approximately $2.7 billion, which could result in future tax savings.

Board Recommends Vote "FOR" the Transaction

The board of directors at WISH has unanimously recommended that stockholders vote in favor of the transaction with Qoo10. The cross-border synergy between ContextLogic and Qoo10 is expected to advance competitive positioning and drive shareholder value. Stockholders have been urged to exercise their voting rights to approve the deal during the special meeting scheduled for April 12, 2024.

Proxy Materials and Special Meeting Details

Stockholders should expect to receive proxy materials in the imminent future, which will contain detailed information regarding the transaction and instructions on how to vote. The definitive proxy statement elucidates the strategic rationale behind the merger and outlines the potential financial and strategic benefits. WISH emphasizes the importance of stockholder participation in this pivotal decision to shape the company's trajectory while securing tax benefits through the preservation of its NOLs.

About ContextLogic Inc.

Headquartered in San Francisco, California, ContextLogic Inc. WISH is a leading player in mobile e-commerce, catering to customers across Europe, North America, South America, and other international markets. The company's platform provides a synergistic blend of value and efficiency to both consumers and merchants, fostering a dynamic e-commerce ecosystem.

Shareholders, Approval, Transaction