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ContextLogic Advances US Salt Acquisition with Launch of Fully Backstopped $115 Million Rights Offering Priced at $8.00 per share

OAKLAND, Calif., Jan. 22, 2026 (GLOBE NEWSWIRE) -- ContextLogic Holdings Inc. (OTCQB:LOGC) ("ContextLogic," the "Company," "we" or "our") today announced the launch of a fully backstopped $115 million rights offering to holders of its common stock, par value $0.0001 per share ("ContextLogic common stock") at $8.00 per share (the "Rights Offering") with the proceeds used to fund and complete its previously announced $907.5 million acquisition (the "Transaction") of US Salt Parent Holdings, LLC and its subsidiaries (collectively, "US Salt"), marking a transformational step in the Company's evolution into a diversified business ownership platform.

The Company is offering a maximum of 14,375,000 new shares, representing approximately 20.9% of its share capital following consummation of the Transaction and assuming the rights offering is fully subscribed. If fully subscribed, ContextLogic Holdings Inc. will own 67.8% of the units of ContextLogic Holdings, LLC, the ultimate parent of US Salt.

The Rights Offering is being made only by means of a prospectus a copy of which has been filed with the Securities Exchange Commission ("SEC") and is available on their website, www.sec.gov, and on the Company's website, ir.contextlogic.com or by contacting the Information Agent, D.F. King, at (888) 542-7446 or

Rights Offering DetailsBeginning on January 22, 2026 (the "Effective Date"), each share of ContextLogic common stock includes one (1) subscription right (the "Right" or "Rights") until 5:00 p.m. on February 20, 2026 (the "Expiration Time"). Each Right provides the holder thereof to purchase 0.53486 shares of ContextLogic common stock at a purchase price of $8.00 per full share of ContextLogic common stock. The Rights will remain attached to and trade along with the associated share of ContextLogic common stock. From the Effective Date until the Expiration Time, (the "Subscription Period"), the Company's ticker symbol will be modified to LOGC.d to indicate that Rights are attached. Rights are not separately transferable or tradable from the underlying ContextLogic common stock until the consummation or termination of the Rights Offering.

Ticker Symbol

LOGC.d

Exercise Price:

$8.00 per share

Subscription Ratio:

Each Right entitles you to purchase 0.53486 shares of ContextLogic common stock at an exercise price of $8.00 per share. This means you need a minimum of 1.86964 rights to purchase one (1) full share of ContextLogic common stock

Effective Date (Earliest date to exercise rights):

January 22, 2026

Expiration Time: