Radoff-JEC Group Urges Seer Stockholders to Vote “FOR” All Three of its Independent, Highly Qualified Nominees on the WHITE Proxy Card TODAY
All Three Independent Proxy Advisors Unanimously Recommend Stockholders Vote “FOR” Radoff-JEC Group Nominees, “WITHHOLD” Support on Seer Directors Terrance McGuire and Dipchand Nishar and Vote “AGAINST” the NOL Pill
Believes New, Independent Directors Are Required to Run a Credible, Transparent Review of Strategic Alternatives That Results in a Value-Maximizing Outcome for ALL Stockholders
HOUSTON–(BUSINESS WIRE)–
Bradley L. Radoff and Michael Torok (together with certain of their affiliates, the “Radoff-JEC Group” or “we”), who collectively own approximately 7.7% of Seer, Inc.’s (NASDAQ: SEER) (“Seer” or the “Company”) outstanding common stock, today issued the following statement reminding their fellow stockholders to vote “FOR” the election of Howard H. Berman, Ph.D., Luis E. Rinaldini and Joshua S. Horowitz to Seer’s Board of Directors (the “Board”), “WITHHOLD” on incumbent directors Terrance McGuire, Dipchand Nishar and Omid Farokhzad, M.D., and “AGAINST” the ratification of the Tax Benefit Preservation Plan.
We believe stockholders are at the final fork in the road at Seer, with a vote for our nominees representing a path to value creation and a vote for the incumbent directors representing a continued path to more irreversible value destruction:
- All three independent proxy advisors (Institutional Shareholder Services Inc., Glass, Lewis & Co., LLC and Egan-Jones Proxy Services) endorsed the Radoff-JEC Group’s case for urgent change at Seer.
- Seer’s stock has declined by 97% since its 2020 IPO.
- The Board rejected multiple premium acquisition proposals – including offers from both us and Chairman and CEO Omid Farokhzad, M.D. – without running a robust, transparent process, casting major doubt on its commitment to objectively maximizing stockholder value.
- Only two members of Seer’s seven-member Board are sufficiently independent to serve on its Special Committee charged with evaluating Seer’s strategic alternatives. The two-member Special Committee has still not disclosed its independent financial and legal advisors.
- The Board has allowed Seer to trade at a massive discount to net cash with no meaningful insider buying, repeatedly approved of dilutive equity grants and options repricing, and maintained multiple entrenchment devices to the detriment of stockholders.
- Our nominees – Howard H. Berman, Ph.D., Luis E. Rinaldini and Joshua S. Horowitz – are truly independent and bring complementary life sciences, transaction and investor experience that canstrengthen the Board’s objective oversight of strategy and capital allocation and ensure that all strategic alternatives are fully and fairly evaluated with stockholders’ best interests in mind.
As we have stated previously, we agree with Dr. Farokhzad that Seer has no future as a publicly traded company. We believe Seer should be sold to the highest bidder in a transaction that maximizes value for ALL stockholders – and we strongly believe that the only way to achieve a value-maximizing outcome is to elect truly independent and qualified directors who are capable of running a robust and transparent review of strategic alternatives.
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Vote FOR the Radoff-JEC Group’s Nominees – Howard H. Berman, Ph.D., Joshua S. Horowitz and Luis E. Rinaldini – Today to Support a Legitimate Strategic Review Process Aimed at Maximizing Value for ALL Seer Stockholders
Do NOT Vote for Omid Farokhzad, M.D., Terrance McGuire or Dipchand (Deep) Nishar
Questions about how to vote? Contact (888) 368-0379 or [email protected].
Visit www.SaratogaProxy.com/SEER to learn more.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260723350705/en/
Greg Lempel
[email protected]
or
Saratoga Proxy Consulting LLC
John Ferguson / Joseph Mills, 212-257-1311
[email protected]
KEYWORDS: Texas United States North America
INDUSTRY KEYWORDS: Professional Services Finance
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