Seer Shares Surge 30% on CEO Buyout Proposal
Seer Inc (NASDAQ:SEER) experienced a roughly 30% jump in after‑hours trading on Thursday after its Chair and Chief Executive Officer, Omid Farokhzad, submitted an unsolicited, non‑binding proposal to acquire all outstanding shares of the company’s Class A common stock. The offer specifies a cash consideration of $2.45 per share together with two separate contingent value rights.
The Board of Directors announced that it will establish a Special Committee composed solely of independent directors to evaluate the CEO’s proposal. The committee is tasked with reviewing the offer, considering any alternative courses of action, and determining the course it believes best serves the interests of Seer and its stockholders.
To assist in its assessment, the Special Committee will retain independent advisors. Perella Weinberg Partners has been engaged as the financial advisor, while Wilson Sonsini Goodrich & Rosati will serve as legal counsel.
The full text of Mr. Farokhzad’s letter outlining the acquisition proposal will be incorporated into a Form 8‑K filing by Seer. The company clarified that no action is required from shareholders at this stage.
Seer describes itself as a Redwood City, California‑based proteomics company that develops the Proteograph Product Suite, a platform that combines engineered nanoparticles, automation instrumentation, consumables, and analytical software for research‑only applications; its products are not intended for diagnostic procedures.