The transaction reshapes ContextLogic following its post-IPO collapse and the 2024 sale of its former e-commerce assets. The firm is now repositioning itself as an owner of specialist businesses with strong cash generation, supported by BC Partners Credit's $150m strategic commitment and the company's $2.9bn of net operating losses and tax assets. US Salt supplies high-purity evaporated salt for food, pharmaceutical, and water treatment markets, which have remained resilient through economic cycles. Its management team, led by CEO David Sugarman, will continue in place under the new ownership structure. Abrams Capital will roll over substantially all of its existing stake in US Salt and become the largest shareholder in ContextLogic after completion. Ted Goldthorpe, Head of BC Partners Credit and Chair of ContextLogic's Board, said: 'We are very excited to partner with David Sugarman and US Salt to drive value for all shareholders of ContextLogic through its defined growth strategy....
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