ContextLogic Agrees to Sell Wish to Qoo10 for $173 Million

The parent of discount online retailer Wish has agreed to sell its assets and liabilities for $173 million to Singaporean e-commerce company Qoo10.

ContextLogic Inc.will sell assets including Wish to Qoo10 for $6.50 per share in cash, according to a statement on Monday that confirmed a Bloomberg News report.

ContextLogic will remain as an entity holding proceeds from the deal as well as $2.7 billion of so-called net operating loss carryforwards, a tax-related asset that can be used to lower taxable income in the future.

ContextLogic may seek out a financial sponsor to help monetize its tax ...