ContextLogic (WISH) IPO Opens Lower

Today's IPO for ContextLogic (NASDAQ: WISH) opened for trading at $22.75 after pricing 46,000,000 shares of its Class A common stock at a price to the public of $24.00 per share.

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.

Founded in 2010 and headquartered in San Francisco, Wish is one of the largest and fastest growing global ecommerce platforms, connecting more than 100 million monthly active users in over 100 countries to over 500,000 merchants around the world. Wish combines technology and data science capabilities and an innovative discovery-based mobile shopping experience to create a highly-visual, entertaining, and personalized shopping experience for its users. This combination has allowed Wish to become the most downloaded global shopping app for each of the last three years.

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