DealsMay 21, 2026, 04:39 PM
Seer Rejects Radoff-JEC Group's Revised $2.40/Share Acquisition Bid
AI Summary
Seer, Inc. announced that its Board of Directors has unanimously rejected the further revised unsolicited non-binding proposal from Bradley L. Radoff and Michael Torok (Radoff-JEC Group). The proposal offered to acquire all outstanding shares of Seer's Class A common stock for $2.40 per share in cash plus a contingent value right. The Board determined the offer significantly undervalues Seer and its long-term growth prospects, noting it implies an equity value below the company's current cash and investments.
Key Highlights
- Seer's Board unanimously rejected the May 14, 2026, revised acquisition proposal.
- The proposal was from Bradley L. Radoff and Michael Torok (Radoff-JEC Group).
- The offer was $2.40 per share in cash plus a contingent value right (CVR).
- The Board determined the proposal significantly undervalues Seer and its growth prospects.
- The May 14 Revised Proposal is materially the same as a prior offer rejected on April 27, 2026.
- The implied equity value is meaningfully below Seer's current cash, cash equivalents, and investments.
- Perella Weinberg Partners LP and Wilson Sonsini Goodrich & Rosati are serving as Seer's advisors.
Price Impact
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