Seer Announces Pricing of Upsized Public Offering of Common Stock

Rhea-AI Summary

Seer, a life sciences company, has announced a public offering of 3,750,000 shares of Class A common stock at $67.00 per share. The offering includes 1,650,000 shares from Seer and 2,100,000 from selling stockholders. There is a 30-day option for underwriters to purchase an additional 562,500 shares. The offering is expected to close around February 1, 2021. Major investment banks involved are J.P. Morgan, Morgan Stanley, BofA Securities, and Cowen. Seer will not receive proceeds from selling stockholders' shares.

Positive

• Seer is expanding its capital base through a public offering.
• Involvement of major investment banks suggests strong market interest.

Negative

• Dilution of shares due to public offering may negatively impact existing shareholders.

REDWOOD CITY, Calif., Jan. 27, 2021 (GLOBE NEWSWIRE) -- Seer, Inc., a life sciences company commercializing a disruptive new platform for proteomics, today announced the pricing of an underwritten public offering of 3,750,000 shares of Class A common stock (1,650,000 of which are being offered for sale by Seer and 2,100,000 are being offered for sale by selling stockholders of Seer) at a public offering price of $67.00 per share. In addition, the selling stockholders of Seer have granted the underwriters a 30-day option to purchase up to 562,500 additional shares of Class A common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about February 1, 2021, subject to satisfaction of customary closing conditions. Seer will not receive any proceeds from the sale of shares in the offering by selling stockholders.

J.P. Morgan, Morgan Stanley, BofA Securities and Cowen are acting as lead book-running managers for the offering.

Registration statements relating to the shares being sold in this offering were declared effective by the Securities and Exchange Commission on January 27, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone: +1 (866) 803-9204, or by emailing prospectus-eq_fi@jpmchase.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; and Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone: +1 (833) 297-2926, or by emailing PostSaleManualRequests@broadridge.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Seer
Seer is a life sciences company focused on enabling exceptional scientific outcomes by commercializing transformative products that will drive breakthrough ideas by unlocking the deep, unbiased biological information that can make them a reality. Seer is developing its Proteograph Product Suite, which is an integrated solution consisting of consumables, automation instrumentation and proprietary software that performs deep, unbiased proteomics analysis at scale in a matter of hours. Seer designed the Proteograph to be efficient and easy-to-use, leveraging widely adopted laboratory instrumentation to provide a decentralized solution broadly available to life sciences researchers. Seer’s Proteograph Product Suite is for research use only and is not intended for diagnostic procedures.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on Seer’s beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause Seer’s actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include but are not limited to statements regarding statements regarding the timing of the proposed public offering and the intended use of proceeds generated from the offering. These and other risks are described more fully in Seer’s filings with the Securities and Exchange Commission (“SEC”) and other documents that Seer subsequently files with the SEC from time to time. Except to the extent required by law, Seer undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Investor Contact
Carrie Mendivil
investor@seer.bio

FAQ

What is the size of the public offering by Seer?

The public offering consists of 3,750,000 shares of Class A common stock.

What is the offering price per share for Seer's public offering?

The offering price is set at $67.00 per share.

When is Seer's public offering expected to close?

The offering is expected to close on or about February 1, 2021.

Who are the underwriters for Seer's public offering?

J.P. Morgan, Morgan Stanley, BofA Securities, and Cowen are the lead book-running managers.

Will Seer receive any proceeds from the sale of shares by selling stockholders?

No, Seer will not receive any proceeds from the sale of shares by selling stockholders.