Rescue WISH Believes That the Transaction Announced by WISH Is in the Best Interests of All Shareholders

Alta, Wyoming--(Newsfile Corp. - March 19, 2024) - Rescue WISH is an organization dedicated to fighting for the best interests of all shareholders of ContextLogic, Inc. ("WISH"). ContextLogic, Inc. operates the e-commerce website wish.com and the company's common stock trades on the Nasdaq Stock Market under the ticker WISH.

Rescue WISH noted in its initial press releases that WISH stock had fallen more than 99% since the time of its IPO and further noted that shareholders deserved the opportunity to vote for an entirely new Board at the next annual meeting of shareholders.

Under pressure from Rescue WISH, the incumbent Board of Directors reluctantly agreed to add Mr. Rishi Bajaj as shareholder representative to the Board.

Since Bajaj was added to the Board, there has been a notable change at WISH. Bajaj appears to have led a process that has maximized value for the benefit of all shareholders.

Under pressure from Bajaj, the Board agreed to sell the assets of WISH. This asset sale preserves cash for the benefit of all shareholders. Importantly, this asset sale also preserves $2.7 billion in net operating losses ("NOLs"). These NOLs are very valuable, and this transaction ensures that NOLs will survive for the benefit of all shareholders.

With regards to Bajaj’s efforts, Managing Member J. Carlo Cannell of Cannell Capital LLC shared this quote, “Cannell Capital applauds the work of Rishi and Rescue WISH and is gratified by the outcome.”

Inquiries from analysts and from the press:

David Pointer
(509) 319-2345
https://www.rescuecontextlogic.com/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202311