Seer Board Rejects Radoff-JEC Group's Sweetened Take-Private Bid

Dow Jones

Apr 27

By Adriano Marchese

Seer's board has rejected an upgraded offer by minority shareholders Bradley Radoff and Michael Torok to take the company private.

The biotechnology company on Monday said that the board has unanimously rejected a bid by the activist investors and minority shareholders operating under the Radoff-JEC Group on the grounds that the $2.35-a-share offer undervalued the business.

Last week, Bradley Radoff and Michael Torok, who own about 7.6% of Seer's shares, submitted a nonbinding proposal to buy the company at the new cash price, which includes a plus a contingent value right. The $2.35 per-share offer was an upgrade from $2.25 a share originally submitted on April 13.

Shares of the company are up 7.7% year-to-date and closed on Friday at $1.97 a share.

The Seer board said its board is confident that the company's strategy, platform and team can create value in excess of the proposal from the Radoff-JEC Group.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

April 27, 2026 07:38 ET (11:38 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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