ContextLogic Announces Agreement to Sell Substantially All Operating Assets and Liabilities Associated with Wish to Qoo10 for $173 Million in Cash
The Board also intends to explore the opportunity for a financial sponsor to help ContextLogic realize the value of its tax assets.
- The Board also intends to explore the opportunity for a financial sponsor to help ContextLogic realize the value of its tax assets.
- We evaluated a variety of potential outcomes and determined that the proposed sale of our operating assets and liabilities, while preserving significant NOLs, represents the best path forward to maximize value for shareholders.
- Upon close, we expect the new Wish platform will have an improved customer experience through increased product assortment and merchant selection.
- As part of the agreement, ContextLogic will begin trading under a new ticker symbol within 30 days of the closing of the transaction.