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Seer Prices $110.5M Follow-on Stock Offering

NEW YORK – Proteomics firm Seer said on Wednesday that it has priced an underwritten public offering of 3.75 million shares of Class A common stock at $67 per share.

The offering will consist of 1.65 million shares sold by Seer and 2.1 million shares sold by stockholders of Seer. Gross proceeds to Seer will be around $110.5 million.

Additionally, the selling stockholders will grant 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 company will use the proceeds to commercialize its Proteograph Product Suite and for development work on the Proteograph system and other R&D and corporate purposes. The ProteoGraph system uses nanoparticle-based enrichment of proteins in samples like human plasma to enable deeper coverage in proteomic discovery experiments.

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

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

Seer went public less than two months ago, raising around $175 million in its market debut. It also raised $135 million in a concurrent private financing.