Actionable Opportunities in Special Situations: Spinoffs, Bankruptcy, Restructurings

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LookSmart (LOOK) announces spinoff and merger agreement with Pyxis Tankers

LookSmart (LOOK) and privately-held Pyxis Tankers Inc. jointly announced that they have entered into an Agreement and Plan of Merger, whereby Pyxis will become a publicly listed company as a result of the merger between LookSmart and Pyxis’ wholly-owned subsidiary, Maritime Technologies Corp. In addition, LookSmart will spin off its existing business into a new entity called LookSmart Group. Source

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