Overview
- Seer said it received a non-binding, unsolicited proposal from the Radoff-JEC Group to buy all Class A shares for $2.25 in cash plus a contingent value right, and it named Perella Weinberg and Wilson Sonsini as advisers.
- The contingent value right would give shareholders 80% of any net proceeds if Seer later sells or monetizes its business or assets, adding possible payout beyond the cash offer.
- Radoff-JEC, which holds about 7.6% of Seer, also nominated Howard Berman, Joshua Horowitz, and Luis Rinaldini for election to the board at the 2026 annual meeting.
- The bidder said it does not require financing conditions and aims to finish due diligence and negotiate a definitive merger agreement by April 30.
- Shares rose about 9% to $1.84 after the news, and Seer told investors no action is required while the board reviews the bid and the director nominations.