From Earlier: Shareholder Consortium Announces Offer for LookSmart at $1.00 per Share

PEEK Investments LLC on Friday announced a third-party tender offer to purchase all of the outstanding shares of common stock of LookSmart, Ltd.

at $1.00 per share in cash. The offer represents a 35% premium over the NASDAQ Official Closing Price for the common stock on June 28, 2012. PEEK is sponsored by a consortium of LookSmart's shareholders represented by Snowy August Management LLC and Platinum Management (NY) LLC. The current consortium may collectively be deemed to be LookSmart's largest shareholder and beneficially own 2,591,312 shares (approximately 14.98% of the outstanding shares).