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PEEK extends tender offer for shares of LookSmart and announces updates

PEEK Investments LLC announced that, as requested by a number of shareholders of LookSmart, Ltd. and after discussions with the Lead Independent Director of LookSmart, PEEK has extended its third-party tender offer to purchase all of the outstanding shares of common stock of LookSmart for $1.00 per share in cash. As extended, the tender offer is currently scheduled to expire at 12:00 midnight, ET, on Aug. 24. The tender offer was previously scheduled to expire at 12:00 midnight, ET on Aug. 10. PEEK issued the following statement on behalf of Mr. Onghai: "We continue to believe that the tender offer benefits LookSmart and creates value for all shareholders, including all of the shareholders that elect to participate by tendering shares in the offer and any shareholders that choose not to participate in the offer. We look forward to working directly with LookSmart's independent directors to consummate the tender offer as soon as possible." Whether or not the tender offer is consummated, PEEK intends to hold LookSmart's officers and directors accountable for performance, oversight, and LookSmart's compensation and governance policies and practices.