SAN FRANCISCO, Nov. 6, 2013 /PRNewswire/ -- LookSmart, Ltd.
today announced that LookSmart has determined to effect a 1-for-3
reverse stock split of its outstanding common stock, which is
expected to become effective at 5:00 P.M.
(Eastern Time) on November 5,
2013.
The common stock is expected to begin trading on a
split-adjusted basis when the market opens on November 6, 2013. The reverse stock split
will not change the authorized number of shares of common stock or
preferred stock of the Company or the par value of the common stock
or preferred stock.
Stockholders who hold their shares in brokerage accounts or
"street name" will not be required to take any action to effect the
exchange of their shares. Holders of share certificates will
receive instructions from the Company's transfer agent regarding
the process for exchanging their shares.
About LookSmart, Ltd.
LookSmart is a pioneer in online
advertising. Founded in 1997, LookSmart has been connecting
advertisers and agencies to high quality sources of inventory for
performance marketing, and helps online publishers monetize their
inventory through our award winning Ad Center platform.
LookSmart's highly scalable technology processes billions of search
queries on a daily basis, enabling marketers to bid in real-time
across search and display inventory, and leverage intent data to
get performance that meets aggressive campaign goals.
LookSmart also operates Syncapse, a technology-enabled
solutions company that uses social media data to help some of the
world's most valuable brands understand their customer needs and
improve performance, and Clickable, a technology-enabled
services company that helps companies and agencies manage their
online marketing for themselves and their clients. LookSmart
is based in San Francisco,
California. For more information, visit www.looksmart.com or
call (415) 348-7000.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to factors that could cause actual results to differ
materially from the results contemplated by the forward-looking
statements, including assumptions that may or may not be correct or
accurate due to the inherent uncertainty of future events, the
actions of third parties we cannot control or predict with
certainty, and other factors that may cause us to change our
plans.
SOURCE LookSmart, Ltd.