LookSmart, Ltd.'s Equity Buyback in the amount of $1 mm has expired
January 13, 2013 at 11:00 pm EST
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The Board of Directors of LookSmart, Ltd. (NasdaqGM:LOOK) authorized a share repurchase program on May 31, 2012. Under the program, the company will repurchase up to $1 million of its common stock. The company may purchase its common shares from time to time in the open market or in privately negotiated transactions. The amount and timing of the purchases will depend on a number of factors including the price and availability of the company's common shares, trading volume and general market conditions. The company may also from time to time establish a trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934 to facilitate purchases under the plan. Till September 30, 2012, the company has repurchased 39,691 shares for $0.03 million.
LookSmart, Ltd.'s share repurchase program expired on account of its acquisition by Platinum Management (NY) LLC through its fund Platinum Partners Value Arbitrage Fund, L.P. , Snowy August Management, LLC through its fund Snowy August Fund I LP, Michael Onghai, Mark Nordlicht, and Uri Landesman (buyers) on January 14, 2013.
LookSmart Group, Inc. operates in a programmatic online advertising ecosystem serving ads that target user queries on partner sites. The Company handles programmatic media buying on both Tier1 (Facebook, Google, Bing and Yahoo) and Tier2 channels (any other site beyond Google, Bing, Facebook and Yahoo). The Company offers search advertising customers targeted search via a monitored search advertising distribution network using its AdCenter platform technology. Its search advertising network includes publishers and search advertising customers, including intermediaries and direct advertising customers and their agencies, as well as self-service customers in the United States and certain other countries. In addition, Looksmart, under its Clickable and Syncapse brands, allows customers to manage paid, owned and earned media by providing a suite of solutions for social media marketers that include publishing, monitoring, data storage, compliance, management, ad placement and analytics.
LOOKSMART GROUP, INC. 
