ContextLogic to acquire US Salt for $907.5M; forms ownership platform with Abrams/BC

ContextLogic Holdings Inc.

Enterprise value $907.5M; financed with $292M cash, $240M debt, $115M rights offering backstopped at $8/sh by Abrams/BC.
Abrams Capital rolls over ~$315M equity stake in US Salt, becomes largest ContextLogic shareholder (~39% post-close).
CEO Rishi Bajaj resigns effective Dec 7; Mark Ward (BC Partners) appointed President; board to be chaired by Abrams' Raja Bobbili.
Closing expected H1 2026, subject to regulatory approvals and customary conditions.
ContextLogic intends to pursue a national securities exchange listing following the transaction close.

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