ContextLogic to acquire gChem for $850M; Q2 revenue flat at $33.6M, gross margin down

ContextLogic Holdings Inc.

Acquisition of gChem (specialty chemicals) for $850M cash; expected close by end of 2026.
Preliminary Q2 2026 revenue $33.6M (flat YoY); gross profit $12.5M (down $1.2M); gross margin 37% vs 41%.
Rights offering fully backstopped at $9/unit by Abrams Capital, BC Partners; up to $870M equity committed.
US Salt self-reported contaminant in Feb 2026 production lot to FDA; possible recall may materially affect business.
Combined business expected to generate $95-105M free cash flow for FY 2027.

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