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Company:
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LOOPNET, INC.
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Form Type:
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4
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Filing Date:
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4/30/2012
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CIK:
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0001353209
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Address:
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185 BERRY STREET
SUITE 4000
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City, State, Zip:
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SAN FRANCISCO, California 94107
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Telephone:
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(415) 243-4200
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Fiscal Year:
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04/30
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Description of Business
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On April 27, 2011, LoopNet, Inc. ("we," the "Company" or "LoopNet") entered into
an Agreement and Plan of Merger (the "Merger Agreement") with CoStar Group,
Inc., a Delaware corporation ("CoStar") under which the LoopNet will become a
wholly-owned subsidiary of CoStar (the "Merger"). If the Merger is consummated,
each outstanding share of our common stock will be converted into the right to
receive a unit consisting of (i) $16.50 in cash, without interest, and
(ii) 0.03702 shares of CoStar common stock. As previously disclosed, the holders
of our Series A Preferred Stock have delivered contingent conversion notices to
us pursuant to which such shares will be converted into common stock immediately
prior to, and contingent upon, the completion of the Merger. On July 11, 2011,
our stockholders adopted the Merger Agreement at a special meeting of the
stockholders.
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