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Seer Plans Offering of 3.5M Shares of Common Stock

NEW YORK – Proteomics firm Seer said on Monday that it is planning an offering of 3.5 million shares of Class A common stock.

The proposed offering will consist of 1.4 million shares sold by Seer and 2.1 million shares sold by stockholders of Seer. Additionally, the selling stockholders will grant the underwriters a 30-day option to purchase up to 525,000 additional shares of Class A common stock at the public offering price, less underwriting discounts and commissions.

The company said that it will use the proceeds to commercialize its Proteograph Product Suite and for development work on the Proteography system and other R&D and corporate purposes.

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

Seer went public in December 2020 with a $175 million initial public offering. It also at that time sold an additional $135 million of Class A common stock at the IPO price in a private placement.

In Tuesday morning trading on Nasdaq, Seer shares were down 4 percent to $78.19.

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