Seer shareholders demand valuation disclosure after board rejects buyout offers
SEER•Seer shareholders Bradley L. Radoff and Michael Torok, who hold approximately 7.7% of the company, demanded disclosure of the valuation analysis behind the board’s rejection of acquisition proposals. A July 1 proposal from CEO Omid Farokhzad offered $2.45 per share in cash plus two contingent value rights.
1. Shareholders seek explanations
Bradley L. Radoff and Michael Torok demanded explanations for Seer’s rejection of acquisition proposals. The two investors hold approximately 7.7% of the company.
2. Offers and disclosure demands
A two-member special committee rejected bids from the shareholder group and CEO Omid Farokhzad on October 29, 2026, favoring remaining public. Farokhzad’s July 1 proposal offered $2.45 per share in cash with two separate contingent value rights; he later revised it. The investors asked for the committee’s valuation analysis, financial projections and adviser arrangements, and questioned its independence.
3. Directors held accountable
The investors said they would hold directors accountable and reserved their rights regarding the 2027 annual meeting, following a contested 2026 annual meeting.
