The Radoff-JEC Group Responds to Seer, Inc.’s Rejection of April 24th Acquisition Proposal
The Radoff-JEC Group, which owns approximately 7.6% of Seer, publicly criticized the Board for rejecting its non-binding acquisition proposal of $2.35 per share in cash plus a contingent value right. The activists argued that the rejection ignores a 39% premium to the unaffected stock price and cited Seer's track record of over $465 million in cumulative losses and a 90% share price decline since IPO. Radoff-JEC confirmed it will nominate three independent directors—Howard H. Berman, Joshua S.
Key figures
- Ceo share sales
- $103 million
- Acquisition price
- $2.35
- Cumulative reported losses
- $465 million
- Premium to unaffected price
- 39%
- Activist ownership percentage
- 7.6%
- Share price decline since ipo
- >90%
- Capital destroyed ceo track record
- $1 billion
AI analysis
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