ContextLogic has launched a fully backstopped $115 million rights offering to common stockholders at $8.00 per share. The company will offer a maximum of 14,375,000 new shares, representing approximately 20.9% of its share capital post-transaction. The proceeds will fund ContextLogic's previously announced $907.5 million acquisition of US Salt Parent Holdings and its subsidiaries, marking a strategic shift towards becoming a diversified business ownership platform. If fully subscribed, ContextLogic Holdings will own 67.8% of the units of ContextLogic Holdings, which will become the ultimate parent of US Salt. The transaction represents a transformational step for the company as it expands beyond its original business model.

Marks the first step in building ContextLogic into a differentiated business ownership platform. ContextLogic will be focused on owning niche,...

Amazon Haul launches in Canada with fashion, electronics, home and beauty items as low as $1. The new offering is expected to compete with platforms like AliExpress, Shein and Wish, which offer a variety of low-priced goods. Amazon has launched an ultra-low-priced marketplace in Canada that promises hundreds of thousands of items for $25 or less, with the majority under $10, and some as low as $1. Amazon Haul, now available in Canada using the Amazon Shopping mobile app, it is expected to compete with platforms like AliExpress, Shein and Wish, which offer a variety of low-priced goods. In a news release, Amazon said its new Amazon Haul feature offers Canadians multiple merchandise categories, including fashion, home, beauty and electronics. Canadian customers can receive five per cent off orders over $70 and 10 per cent off orders over $100, with free shipping on orders over $35. A standard delivery fee of $6.99 applies to orders of less than $35. Amazon Haul is designed to offer a fun, engaging way to shop on the app, the company said. It promises to deliver orders in two weeks or less. "Delighting customers through innovation has been Amazon's approach from day one, and we're always adapting to what matters most to them," said Eva Lorenz, Amazon Canada vice-president and country manager in a release. Lorenz added the new offering reflects Amazon's commitment to convenience and a trustworthy experience, with expanded affordable options. How to use. A spokesperson said via email Amazon Haul is available exclusively on mobile devices for select customers in Canada. Customers can browse product selection and prices by visiting amazon.ca/haul from their mobile phone. Using the Amazon Shopping app, search "Haul" in the search bar and navigate to Amazon Haul from the main menu icon. Amazon said its Amazon Haul feature will be rolled out to all Canadian customers over the next few weeks. On the r/amazonprime subreddit at reddit.com, commenters have described some of the bargains they've scored on the platform. "I got some pretty looking golden pearl shower curtain hangers and a ridiculously silly cat poster that actually showed up on very cheap canvas as opposed to a poster. So actually much better quality than expected," commenter Few_Theory1979 wrote earlier this month. Reddit commenter I_Heart_Gatos said they use Amazon Haul at least twice a month with mostly good luck. For clothing, the commenter said customers should be careful with sizing. A large-sized clothing item may more comparable to a U.S.-size small, for example. "However, their sizing does work for me when it comes to socks," the commenter noted. "I usually need smaller socks (4-8, not 5-9) and they have them." I_Heart_Gatos noted they have also ordered plastic organizing bins and containers, kitchen items and some hard-to-find cellphone cases. The Amazon Haul user said shoppers can also find silly items like humorous signs and plaques. The commenter said they will not order electronics due to fire hazard concerns and also avoids buying makeup. Quality assurances. Amazon said customers can use customer reviews and star ratings to select products. Amazon said it checks all products on Amazon Haul to ensure customers receive products that are safe and compliant with applicable regulations and Amazon policies. Amazon Haul also offers free returns within 15 days. "In many cases, customers don't have to worry about boxes or labels, and their preferred drop-off location will handle the packing, labelling, and shipping," Amazon said.