Good morning, and welcome to ContextLogic's twenty twenty five Annual Meeting of Stockholders. Please note this event is being webcast. Now I'd like to introduce Mary Anne Lewis, the company's Senior Corporate Counsel and Corporate Secretary and chairperson of this meeting.
Welcome, everyone, and thank you for joining our annual meeting of stockholders. It is now 10AM, and the meeting will please come to order. We will use the rules of conduct and procedure that are posted in the web portal. By following those rules and procedures, we will be able to handle the business of the meeting efficiently and fairly. Thank you for your cooperation with these rules.
According to preliminary data provided by the inspector of election, the reorganization proposal to approve the reorganization plan and agreement does not have sufficient votes to be approved by stockholders as of the date hereof. As noted by the inspector of election, about 66% of our stockholders have voted, and the reorganization proposal has overwhelming support from the stockholders who have voted with about 99% of the votes running in favor of the reorganization. However, we are still waiting to receive approval from holders of a majority of our outstanding shares. Therefore, at the direction of the company's board of directors, this meeting is adjourned to solicit more proxies and votes. We will reconvene on Thursday, 07/24/2025 at 10AM Pacific time.
You will be able to attend the adjourned meeting by clicking the same link that you used to enter the meeting today. Thank