ContextLogic adjourns special meeting to allow additional time to vote

ContextLogic announced its Special Meeting of Stockholders will convene and then adjourn without conducting any business. The Special Meeting will reconvene at 11:30 a.m. Pacific Time on April 18, 2024. The Special Meeting was being held in connection with the Company’s proposed asset sale transaction to Qoo10, as described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on March 15, 2024. To realize the benefits of this value-maximizing Asset Sale, the holders of a majority of ContextLogic outstanding shares must vote in support of the transaction. Approximately 97% of the shares voted have been “FOR” the Asset Sale. ContextLogic currently needs approximately 500,000 additional shares to vote “FOR” the transaction in order to achieve the necessary threshold. The adjournment will provide time to solicit additional proxies necessary to obtain the requisite approval. Stockholders who have previously submitted their proxy or otherwise voted do not need to take any action. The proxy card included with the previously distributed proxy materials will not be updated to reflect the adjournment and may continue to be used to vote shares in connection with the Special Meeting.