Radoff-JEC Group Urges Seer Inc. to Reconsider Acquisition Proposal for Shareholder Benefit
The Radoff-JEC Group Calls on Seer Inc. and Its Advisors to Reevaluate Its Premium Acquisition Proposal in the Best Interests of All Stockholders
Businesswire
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The Radoff-JEC Group, owning 7.8% of Seer Inc., has called for a reevaluation of its acquisition proposal, offering $2.40 per share, a 42% premium. They criticize the board's rejection of their offers and plan to nominate three independent directors to advocate for a strategic review aimed at maximizing shareholder value.
- 01The Radoff-JEC Group has proposed acquiring Seer Inc. for $2.40 per share, which represents a 42% premium over the unaffected share price.
- 02The group's proposals have been rejected by Seer's board without engagement, raising concerns about potential breaches of fiduciary duty.
- 03Seer's management has been criticized for failing to provide a credible plan to create shareholder value despite significant capital losses.
- 04The Radoff-JEC Group is seeking to elect three independent directors to advocate for a strategic review process to maximize shareholder value.
- 05The group's acquisition offers are fully financed and include a contingent value right for shareholders to receive 80% of net proceeds from asset sales.
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The Radoff-JEC Group, which holds approximately 7.8% of Seer Inc. (NASDAQ: SEER), has publicly urged the company's board and advisors to reconsider their acquisition proposal, which offers $2.40 per share in cash, a 42% premium over the unaffected share price. The group has submitted three acquisition proposals since April 2026, all of which were rejected by the board without any engagement. They argue this rejection may breach fiduciary duties, especially given Seer's poor financial performance, including a 33.3% decline in year-over-year revenue. The Radoff-JEC Group plans to nominate three independent directors—Howard H. Berman, Joshua S. Horowitz, and Luis E. Rinaldini—at the upcoming 2026 Annual Meeting of Stockholders. These nominees aim to push for a strategic review process that prioritizes maximizing value for all shareholders. The group asserts that the current leadership has failed to deliver value and is calling for immediate action to avoid further deterioration of shareholder interests.
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The outcome of this acquisition proposal could significantly affect Seer Inc.'s stockholders, potentially leading to a change in management and strategy.
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