- ContextLogic Inc. to voluntarily delist from Nasdaq effective June 2, 2025.
- Trading will commence on the OTCQB Venture Market on June 3, 2025, under the ticker symbol LOGC.
- Shareholders need not take any action as the ticker and CUSIP remain unchanged.
ContextLogic Inc. (LOGC, Financial) has announced its decision to voluntarily delist from the Nasdaq Global Market, with the delisting taking effect at the close of markets on June 2, 2025. Subsequently, LOGC will start trading on the OTCQB Venture Market of the OTC Markets on June 3, 2025, retaining its ticker symbol and CUSIP.
This strategic move comes in response to a notification from Nasdaq on March 28, 2025, designating the company as a "public shell" and subject to delisting. Despite presenting their case at a hearing on May 8, 2025, ContextLogic's Board unanimously decided to proceed with the delisting, citing factors such as regulatory requirements, increased management time commitments, and the costs associated with maintaining a Nasdaq listing.
For shareholders, there will be no requirement to exchange share certificates or undertake any additional actions due to the delisting, as the trading symbol and CUSIP remain unchanged. The company plans to file Form 25 with the SEC around June 9, 2025, with delisting becoming effective 10 days following the filing. ContextLogic emphasizes that its strategy and operations will remain unaltered and that the transition is anticipated to reduce expenses and maintain an orderly trading market through the OTC Markets platform.
