ContextLogic (WISH) has released an update.
ContextLogic Inc. has launched a strategic tax benefits preservation plan to safeguard the company’s valuable tax assets, such as net operating loss carryforwards, from limitations due to ownership changes. Stockholders will receive one “Right” per share, allowing them to buy a fraction of a Preferred Stock share at $20, which could deter significant stake acquisitions and thus protect the company’s tax benefits. This move is structured not to impede approved business deals and is set to expire in February 2027, with provisions for earlier termination under specific conditions.
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