Wish Announces Pricing of Initial Public Offering

ContextLogic Inc. (d/b/a "Wish") today announced the pricing of its initial public offering of 46,000,000 shares of its Class A common stock at a price to the public of $24.00 per share.

The shares are expected to begin trading on the Nasdaq Global Select Market under the symbol "WISH" on December 16, 2020, and the offering is expected to close on December 18, 2020, subject to customary closing conditions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Wish, are expected to be approximately $1.1 billion, excluding any exercise of the underwriters' option to purchase additional shares. In addition, Wish has granted the underwriters a 30-day option to purchase up to 6,900,000 shares at the initial public offering price, less the underwriting discounts and commissions.

Goldman Sachs & Co. LLC, J.P. Morgan, and BofA Securities are acting as lead book-running managers for the offering. Citigroup, Deutsche Bank Securities, UBS Investment Bank, RBC Capital Markets and Credit Suisse are acting as book-running managers. Cowen, Oppenheimer & Co. Inc., Stifel, William Blair, Academy Securities, Loop Capital Markets and R. Seelaus & Co., LLC are acting as co-managers for the offering.

A registration statement relating to the offering was declared effective by the Securities and Exchange Commission on December 15, 2020. This offering is being made only by means of a prospectus, copies of which may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at [email protected]; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at [email protected], or BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.