PEEK Extends Tender Offer of $1/Share for LookSmart Until January 7, 2013
PEEK Investments LLC today issued the following statement:
"We have extended our third-party tender offer to purchase all of the outstanding shares of common stock of LookSmart (NASDAQ: LOOK) for $1.00 per share in cash. As extended, the tender offer is scheduled to expire at 12:01 A.M., New York time, on January 7, 2013. The tender offer was previously scheduled to expire at 5:00 P.M., New York time, on December 31, 2012. As of December 31, 2012, 8,380,021 shares had been deposited, which, together with the shares owned by PEEK's affiliates, represents over 63% of the total shares outstanding.
We extended the tender offer because we are currently engaged in negotiations with LookSmart with respect to possible board representation rights and related agreements and transactions. However, we cannot guarantee that the negotiations will be successful or that the tender offer will be consummated even if the negotiations are successful."
About PEEK Investments LLC
PEEK Investments LLC is a newly-formed Delaware limited liability company, organized for purposes of making the tender offer. PEEK is sponsored by a consortium of shareholders of LookSmart represented by Snowy August Management LLC and Platinum Management (NY) LLC. As of the date hereof, the consortium may