Business
The Radoff-JEC Group Calls on Seer Inc. and Its Advisors to Reevaluate Its Premium Acquisition Proposal in the Best Interests of All Stockholders
The Radoff-JEC Group Calls on Seer Inc. and Its Advisors to Reevaluate Its Premium Acquisition Proposal in the Best Interests of All
About this update from Seer, Inc.
[{"type":"text","content":"\nBradley L. Radoff and Michael Torok (together with certain of their affiliates, the “Radoff-JEC Group” or “we”), who collectively own approximately 7.8% of the outstanding shares of Seer, Inc. (NASDAQ: SEER) (“Seer” or the “Company”), today issued the following open letter to the Company’s independent directors and financial and legal advisors in response to Seer’s apparent bad-faith rejection of the Radoff-JEC Group’s three fully financed proposals to acquire Seer.\n\n\nThe Radoff-JEC Group has also filed a preliminary proxy statement to solicit votes for the election of its three nominees – Howard H. Berman, Joshua S. Horowitz and Luis E. Rinaldini – to the Board at the upcoming 2026 Annual Meeting of Stockholders.\n\n\n***\n\n\nMay 27, 2026\n\n\nSeer, Inc.\n3800 Bridge Parkway, Suite 102\nRedwood City, California 94065\nAttn: Meeta Gulyani, Terrance McGuire, Dipchand Nishar, Isaac Ro and Nicolas Roelofs, Ph.D.; Perella Weinberg Partners LP; and Wilson Sonsini Goodrich & Rosati, Professional Corporation\nDear Independent Members of the Board, Perella Weinberg and Wilson Sonsini,\n\n\nAs you are aware, the Radoff-JEC Group has submitted three public proposals to acquire Seer:\n\nApril 13, 2026: Proposal to acquire the Company for $2.25 per share in cash, a 33% premium to the unaffected closing price, and a contingent value right (“CVR”) for stockholders to receive potential additional value from the sale of Seer’s assets.\n\nApril 24, 2026: Improved proposal to acquire the Company for $2.35 per share in cash, a 39% premium to the unaffected closing price, and the same CVR.\n\nMay 14, 2026: Third proposal to acquire the Company for $2.40 per share in cash, a 42% premium to the unaffected closing price, and the same CVR.\n\n\nThe Board did not respond to our April 13 proposal, rejected our April 24 proposal without engaging with us and rejected our May 14 proposal – again, without engaging with us. As the fourth-largest stockholder of Seer with a 7.8% ownership stake, we believe it is a potential breach of fiduciary duty for the Board to refuse to engage with a bidding party and reject an acquisition offer that could represent superior value for stockholders compared to what could reasonably be expected under the status quo.\n\n\nIn Seer’s May 21, 2026 press release, the Board alleged our proposal “is not in the best intere...