40 and $0.60 per share before the announcement, struggling to maintain its Nasdaq listing and carrying a “going concern” opinion from its auditors.
San Francisco-based LookSmart ran up losses of $6.4m on revenue of $4.7m for 2014 and $5.4m on revenue of $6.7m in 2013.
But its shares jumped as high as $2.35 in the wake of the 23 April announcement of the reverse merger with Pyxis as investors appear to see a rescue of the foundering company.
Pyxis
