LookSmart Boards Approves "Rights Plan"

  • August 28, 2012

San Francisco-based LookSmart, an online advertising network solutions company, last week announced the approval of the adoption of a stockholder rights plan. As of September 2, 2012, all LookSmart stockholder of record will receive rights to purchase shares of Series A Participating Preferred Stock.

The release says, “The rights will be distributed as a non-taxable dividend and will expire one year from adoption.”

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