ContextLogic launches $115M fully backstopped rights offering at $8.00/share for US Salt acquisition

ContextLogic Holdings Inc.

Launched $115M rights offering at $8.00/share for 14.375M shares (20.9% of post-transaction capital).
Fully backstopped by BCP (up to $92M preferred units) and Abrams Capital (up to $23M common stock).
Appointed Chad Chevalier as interim CFO effective Jan 16, 2026; he has 25+ years finance experience.
Rights expire Feb 20, 2026; transaction close expected Feb 26, 2026; ticker changes to LOGC.d.
4.9% ownership cap to preserve ~$2.9B NOL carryforwards; no fractional shares.

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