ContextLogic Holdings Inc. is progressing with a previously announced strategic transaction that will transform the company into a business ownership platform focused on acquiring and managing a portfolio of niche, competitively advantaged businesses. As part of the deal, investment funds advised by Abrams Capital will roll over an equity stake in US Salt valued at approximately $315 million and will also support a forthcoming rights offering, alongside BC Partners Credit. Upon closing, existing ContextLogic shareholders are expected to hold around 60% of the company's equity, with Abrams Capital, BC Partners, and other stakeholders making up the remainder. The transaction is anticipated to close in the first half of 2026, after which ContextLogic intends to pursue a listing on a national securities exchange. Changes to the board are also expected, including the addition of David Abrams and Raja Bobbili of Abrams Capital, with Bobbili set to become Chairman.