Jul. 2 at 11:59 PM
Seer shares rose in after-hours trading after the company disclosed an unsolicited takeover proposal from Chairman and CEO Omid Farokhzad.
Farokhzad submitted a non-binding offer to acquire all outstanding Class A common shares he does not already own for
$2.45 per share in cash, plus two separate contingent value rights (CVRs). The proposal would take the proteomics company private if completed.
Seer said its board will establish a Special Committee made up entirely of independent directors to evaluate the offer, review other strategic alternatives, and determine the course of action that best serves shareholders. The committee has retained Perella Weinberg Partners as financial advisor and Wilson Sonsini Goodrich & Rosati as legal counsel.
The full proposal will be included in a Form 8-K filing with the SEC. Seer emphasized that shareholders are not required to take any action at this time.
$SEER