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The Radoff-JEC Group Responds to Chairman and CEO Omid Farokhzad, M.D.’s Proposal to Acquire Seer, Inc.
HOUSTON, July 06, 2026--Bradley L. Radoff and Michael Torok (together with certain of their affiliates, the "Radoff-JEC Group" or "we"), who collectively own approximately 7.7% of the outstanding common stock of Seer, Inc. (NASDAQ: SEER) ("Seer" or the "Company"), today issued the following statement in response to Chairman and CEO Omid Farokhzad, M.D.’s July 1, 2026 proposal to acquire Seer:
About this update from Seer, Inc.
Expresses Support for Sale of Seer to Highest Bidder Emphasizes the Need for Truly Independent and Qualified Directors to Oversee Credible Strategic Review Process Urges Stockholders to vote FOR Howard H. Berman, Ph.D., Joshua S. Horowitz and Luis E. Rinaldini – Independent Candidates Who Are Committed to Overseeing a Strategic Review Process Aimed at Maximizing Value for ALL Seer Stockholders HOUSTON, July 06, 2026--(BUSINESS WIRE)--Bradley L. Radoff and Michael Torok (together with certain of their affiliates, the "Radoff-JEC Group" or "we"), who collectively own approximately 7.7% of the outstanding common stock of Seer, Inc. (NASDAQ: SEER) ("Seer" or the "Company"), today issued the following statement in response to Chairman and CEO Omid Farokhzad, M.D.'s July 1, 2026 proposal to acquire Seer: "For the first time, we agree with Dr. Farokhzad – Seer should not be a public company. Seer should be sold to the highest bidder in a transaction that maximizes value for ALL of the Company's stockholders. Over the past several months, we have detailed a myriad of operational and governance failures at Seer that make it clear to us that the Board is beholden to Dr. Farokhzad and unable to act in the best interests of all stockholders. Further validating our concerns, the Board categorically rejected three separate acquisition proposals from us dating back to April with no engagement whatsoever; yet, two days after Dr. Farokhzad submitted an acquisition proposal with an identical $2.45 per share cash component and what we calculate as vastly inferior contingent value rights to our last offer, the Board formed a Special Committee to review inbound proposals. As such, for a strategic review process to have any credibility, we believe that it must be overseen by truly independent and qualified directors. Unfortunately, as explained in our investor presentation, we do not believe that is possible with the current composition of the Board, which makes the election of our three highly-qualified and independent candidates – Howard H. Berman, Ph.D., Joshua S. Horowitz and Luis E. Rinaldini – more necessary than ever. Again, we believe Seer should be sold. Now we must ensure that the Board is properly equipped with truly independent directors who are capable of overseeing a successful strategic review process that maximizes value for ALL stockholders. If a proper and fu...