ContextLogic (WISH) implements 1-for-30 reverse stock split effective April 11, 2023

ContextLogic Inc.

Stockholders approved reverse split at ratio between 1:20 and 1:30; Board selected 1:30.
Effective 4:01 pm ET April 11, 2023; trading on Nasdaq begins on split-adjusted basis April 12.
Outstanding shares reduced from ~695M to ~23.17M; authorized shares remain 3B.
No fractional shares issued; holders receive whole share rounding up.
New CUSIP number: 21077C305.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

ContextLogic Inc.: Approved and filed a reverse stock split amendment to the Restated Certificate of Incorporation effecting a 1-for-30 reverse stock split (effective 2023-04-11).

Change: charter amendment
Effective: 2023-04-11

Exact text from the filing

At the 2023 Annual Meeting of Stockholders of ContextLogic Inc. (the “Company”) held virtually on April 10, 2023 (the “Annual Meeting”) the Company’s stockholders approved an amendment to the Company’s Restated Certificate of Incorporation to effect a reverse stock split of issued and outstanding Class A common stock (the “common stock”) at a ratio of between 1-for-20 and 1-for-30 shares, with the final ratio to be selected by the Company’s Board of Directors (the “Reverse Stock Split”).

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Source: SEC EDGAR

accession 0000950170-23-012559

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