May. 21 at 10:16 PM
Seer Inc’s board unanimously rejected a revised unsolicited takeover proposal from the Radoff-JEC group, which offered
$2.40 per share in cash plus a contingent value right. The company reiterated that the bid materially undervalues Seer and does not reflect its long-term growth outlook in proteomics and advanced biological analysis technologies.
Management emphasized that the revised offer, submitted on May 14, 2026, was substantially similar to a prior proposal already rejected in late April, reinforcing the board’s view that no meaningful improvement had been made. Seer also highlighted that the implied valuation sits below the company’s net cash position, including cash, equivalents, and investments, suggesting the bid does not appropriately account for its balance sheet strength.
The board conducted its review in consultation with independent financial and legal advisors, including Perella Weinberg Partners LP and Wilson Sonsini Goodrich & Rosati.
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