The company said it completed the spin-off of about 85.5% of the outstanding shares of GRAIL, Inc. to its stockholders on June 24, 2024, with a distribution ratio of 1 share of GRAIL common stock for every 6 shares of Illumina common stock.

1. 01

   The company said it completed the spin-off of about 85.5% of the outstanding shares of GRAIL, Inc. to its stockholders on June 24, 2024, with a distribution ratio of 1 share of GRAIL common stock for every 6 shares of Illumina common stock.

2. 02

   The company said it held 14.5% of GRAIL as of the Distribution Date. The spin-off was made without any payment of consideration or exchange of shares by Illumina stockholders.

3. 03

   The company said it fully drew the senior unsecured term loan under the 364-day credit agreement it entered into on June 17, 2024, which provides for up to $750 million, on June 20. The current borrowing rate is about 6.70%.

4. 04

   The company said GRAIL will begin regular way trading on Nasdaq under the ticker GRAL on June 25, 2024, and that it will report its Q2 results on August 6 and hold its Strategy Update on August 13.

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Original filing

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