ContextLogic Urges ALL Stockholders to Protect the Value of their Investment by Voting 鈥淔OR鈥� the Reorganization TODAY
ContextLogic (OTCQB: LOGC) is urging stockholders to vote in favor of its proposed reorganization plan at the upcoming Annual Meeting scheduled for July 24, 2025. The company reports that approximately 99% of shares voted so far support the reorganization.
The reorganization aims to preserve the company's NOLs (Net Operating Losses), which can reduce future income tax liability. Stockholders of record as of May 19, 2025 are eligible to vote, with the electronic voting deadline set for 11:59 p.m. Eastern Time on July 23, 2025. The company emphasizes that failing to vote has the same effect as voting against the reorganization.
ContextLogic (OTCQB: LOGC) invita gli azionisti a votare a favore del piano di riorganizzazione proposto durante l'Assemblea Annuale che si terr脿 il 24 luglio 2025. L'azienda comunica che circa il 99% delle azioni espresse finora sostiene la riorganizzazione.
La riorganizzazione mira a preservare le perdite fiscali nette (NOL) della societ脿, che possono ridurre l'imposta sul reddito futura. Gli azionisti registrati al 19 maggio 2025 hanno diritto di voto, con scadenza per il voto elettronico fissata alle 23:59 ora della costa Est il 23 luglio 2025. L'azienda sottolinea che non votare equivale a votare contro la riorganizzazione.
ContextLogic (OTCQB: LOGC) insta a los accionistas a votar a favor de su plan de reorganizaci贸n propuesto en la pr贸xima Junta Anual programada para el 24 de julio de 2025. La compa帽铆a informa que aproximadamente el 99% de las acciones votadas hasta ahora apoyan la reorganizaci贸n.
La reorganizaci贸n tiene como objetivo preservar las p茅rdidas netas operativas (NOL) de la empresa, que pueden reducir la carga tributaria futura. Los accionistas registrados al 19 de mayo de 2025 son elegibles para votar, con la fecha l铆mite para votar electr贸nicamente establecida a las 11:59 p.m., hora del Este, del 23 de julio de 2025. La compa帽铆a enfatiza que no votar tiene el mismo efecto que votar en contra de la reorganizaci贸n.
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鞚� 鞛“歆侅潃 須岇偓鞚� 靾滌榿鞐呾啇鞁�(NOL)鞚� 氤挫〈頃橂姅 瓴冹潉 氇╉憸搿� 頃橂┌, 鞚措姅 氙鸽灅 靻岆摑靹� 攵�雼挫潉 欷勳澕 靾� 鞛堨姷雼堧嫟. 2025雲� 5鞗� 19鞚� 旮办 欤检＜ 氇呺秬鞐� 霌膘灛霅� 欤检＜臧� 韴憸 鞛愱博鞚� 鞛堨溂氅�, 鞝勳瀽 韴憸 毵堦皭 鞁滉皠鞚� 2025雲� 7鞗� 23鞚� 霃欕秬 響滌鞁� 鞓ろ泟 11鞁� 59攵�鞛呺媹雼�. 須岇偓電� 韴憸頃橃 鞎婋姅 瓴冹澊 鞛“歆侅棎 氚橂寑頃橂姅 瓴冴臣 霃欖澕頃� 須臣臧� 鞛堨潓鞚� 臧曥“頃╇媹雼�.
ContextLogic (OTCQB : LOGC) encourage les actionnaires 脿 voter en faveur de son plan de r茅organisation propos茅 lors de la prochaine Assembl茅e G茅n茅rale annuelle pr茅vue le 24 juillet 2025. La soci茅t茅 rapporte qu'environ 99% des actions vot茅es jusqu'脿 pr茅sent soutiennent la r茅organisation.
La r茅organisation vise 脿 pr茅server les pertes fiscales nettes (NOL) de l'entreprise, ce qui peut r茅duire la charge fiscale future. Les actionnaires inscrits au 19 mai 2025 sont 茅ligibles pour voter, la date limite de vote 茅lectronique 茅tant fix茅e au 23 juillet 2025 脿 23h59, heure de l'Est. La soci茅t茅 souligne que ne pas voter 茅quivaut 脿 voter contre la r茅organisation.
ContextLogic (OTCQB: LOGC) fordert die Aktion盲re auf, dem vorgeschlagenen Reorganisationsplan auf der bevorstehenden Hauptversammlung am 24. Juli 2025 zuzustimmen. Das Unternehmen berichtet, dass etwa 99% der bisher abgegebenen Stimmen die Reorganisation unterst眉tzen.
Die Reorganisation zielt darauf ab, die steuerlichen Verlustvortr盲ge (NOLs) des Unternehmens zu erhalten, die die zuk眉nftige Einkommensteuerlast senken k枚nnen. Aktion盲re, die am 19. Mai 2025 im Aktienregister eingetragen sind, sind stimmberechtigt, wobei die Frist f眉r die elektronische Stimmabgabe auf 23:59 Uhr Eastern Time am 23. Juli 2025 festgelegt ist. Das Unternehmen betont, dass eine Nichtabgabe der Stimme der Ablehnung der Reorganisation gleichkommt.
- None.
- Company trading on OTCQB market indicates delisting from major exchange
- Failure to approve reorganization could put NOLs and shareholder value at risk
Insights
ContextLogic's reorganization proposal aims to preserve valuable NOLs for future tax benefits, with 99% of votes already supporting it.
ContextLogic is pursuing a critical reorganization plan centered on preserving its Net Operating Losses (NOLs), which represent significant potential future tax benefits. The company has secured approximately 99% support from shares already voted, demonstrating strong stockholder alignment with management's strategy.
This reorganization appears specifically designed to protect the company's NOL assets - accumulated past losses that can offset future taxable income. For companies with substantial NOLs, these tax attributes can represent millions in potential future tax savings, essentially converting past operating losses into valuable assets.
The urgency in ContextLogic's messaging indicates potential risk to these NOLs without the reorganization approval. This typically happens when companies face ownership changes that could trigger IRC Section 382 limitations, which can severely restrict or eliminate NOL utilization. The reorganization likely implements protective measures like ownership restrictions to prevent such limitations.
The company has made voting exceptionally accessible through multiple channels (phone, email, online) with a July 23rd deadline, demonstrating urgency to secure the remaining votes needed. Their statement that "failing to vote has the same effect as voting against" highlights the company's concern about meeting minimum participation thresholds required for approval.
This reorganization represents a strategic corporate action to preserve potential future tax benefits that could significantly enhance ContextLogic's long-term value proposition and cash flow position when it returns to profitability.
Approximately
OAKLAND, Calif., July 17, 2025 (GLOBE NEWSWIRE) -- ContextLogic Inc. (OTCQB: LOGC) (鈥淐ontextLogic,鈥� the 鈥淐ompany,鈥� 鈥渨e鈥� or 鈥渙ur鈥�) today reminds stockholders to vote 鈥淔OR鈥� the proposed reorganization plan (the 鈥淩eorganization鈥� or 鈥淩eorganization Proposal鈥�) at the upcoming Annual Meeting of Stockholders (the 鈥淎nnual Meeting鈥�). The Annual Meeting is scheduled to be held at 10:00 a.m. Pacific Time on July 24, 2025. Stockholders of record as of May 19,听2025 are entitled to vote.
Every day that approval of the Reorganization is delayed puts the value of the Company鈥檚 NOLs and your investment at risk. Regardless of the number of shares you own, your vote on the proposal to approve the Reorganization is crucial to protect your investment.
FAILING TO VOTE HAS THE SAME EFFECT AS VOTING 鈥淎GAINST鈥� THE REORGANIZATION
The Reorganization represents the best path forward to preserve and maximize value for ContextLogic stockholders. If the Reorganization is approved, the Company will preserve the long-term value of its NOLs, which can reduce future income tax liability, and maximize the value of your investment. Approximately
VOTING IS EASY - WE CAN TAKE YOUR VOTE BY PHONE, EMAIL OR ONLINE RIGHT NOW
Call: +1 (800) 322-2885
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Every vote counts and we urge you to protect the value of your investment and vote 鈥�FOR鈥� the Reorganization Proposal TODAY. To ensure your shares are represented at the Annual Meeting, ContextLogic stockholders are urged to vote by phone, email or online. Easy to follow instructions on how to vote are included on the previously provided proxy card. The new electronic voting deadline is 11:59 p.m. Eastern Time on July 23, 2025.
About ContextLogic Inc听
ContextLogic Inc. is a听publicly traded company currently seeking to develop and grow a de novo business and finance potential future bolt-on acquisitions of assets or businesses that are complementary to its operations. For more information on ContextLogic, please visit ir.contextlogicinc.com.听
Forward-Looking Statements听
This news release contains forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding ContextLogic鈥檚 plan of reorganization, including the execution timeline, impact on NOLs, financial expectations or projections, outlook, priorities, strategic direction, and other quotes of management. In some cases, forward-looking statements can be identified by terms such as 鈥渁nticipates,鈥� 鈥渂elieves,鈥� 鈥渃ould,鈥� 鈥渆stimates,鈥� 鈥渆xpects,鈥� 鈥渇oresees,鈥� 鈥渇orecasts,鈥� 鈥済uidance,鈥� 鈥渋ntends鈥� 鈥済oals,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥渙utlook,鈥� 鈥減lans,鈥� 鈥減otential,鈥� 鈥減redicts,鈥� 鈥減rojects,鈥� 鈥渟eeks,鈥� 鈥渟hould,鈥� 鈥渢argets,鈥� 鈥渨ill,鈥� 鈥渨ould鈥� or similar expressions and the negatives of those terms.听 These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Important factors, risks and uncertainties that could cause actual results to differ materially from those forward-looking statements include but are not limited to: our ability to complete the Reorganization and obtain the expected benefits; continued listing of common stock on OTC markets following Reorganization; the impact of transfer restrictions on liquidity and market price of our common stock; risks related to an ownership change; adverse effects if Reorganization is not approved; the strategic alternatives considered by our Board of Directors, including the decisions taken thereto; our ability to utilize our net operating loss carryforwards and other tax attributes; risks related to any future acquisition of a business or assets; currently pending or future litigation; risks if we are deemed to be an investment company under the Investment Company Act of 1940; impact of anti-takeover provisions in our charter documents, in our Tax Benefits Preservation Plan and under Delaware law; and the other important factors. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Further information on these and additional risks that could affect ContextLogic鈥檚 results is included in its filings with the Securities and Exchange Commission (鈥淪EC鈥�), including the amended and restated Proxy Statement/Prospectus filed on June 18, 2025, the additional definitive proxy soliciting materials filed on July 3, 2025, the Annual Report on Form 10-K for the year ended December 31, 2024, as amended by Amendment No. 1 to the Annual Report on Form 10K/A, the Quarterly Report on Form 10-Q for the period ended March 31, 2025 and other reports that ContextLogic files with the SEC from time to time, which could cause actual results to vary from expectations. Any forward-looking statement made by ContextLogic in this news release speaks only as of the day on which ContextLogic makes it. ContextLogic assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.听听
Investor Relations:
Lucy Simon, ContextLogic
FAQ
What is the purpose of ContextLogic's (LOGC) reorganization proposal?
When is the voting deadline for ContextLogic's (LOGC) reorganization proposal?
How many ContextLogic (LOGC) shareholders have voted in favor of the reorganization?
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What happens if ContextLogic (LOGC) shareholders don't vote on the reorganization?
