Illumina Completes GRAIL Acquisition
Ticker: ILMN · Form: 8-K · Filed: Sep 5, 2024 · CIK: 1110803
| Field | Detail |
|---|---|
| Company | Illumina, INC. (ILMN) |
| Form Type | 8-K |
| Filed Date | Sep 5, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $500,000,000, $750 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, healthcare, technology
Related Tickers: ILMN
TL;DR
Illumina finally got GRAIL, bringing cancer detection tech in-house.
AI Summary
On September 4, 2024, Illumina, Inc. announced the completion of its acquisition of GRAIL, LLC. The company stated that it has received the necessary regulatory approvals to close the transaction, which was initially announced on September 18, 2023. This marks a significant step in Illumina's strategy to integrate GRAIL's cancer detection technology.
Why It Matters
This acquisition integrates GRAIL's early cancer detection technology into Illumina's platform, potentially revolutionizing cancer diagnostics and treatment.
Risk Assessment
Risk Level: medium — The integration of GRAIL presents significant operational and financial risks, including potential regulatory challenges and market adoption hurdles.
Key Players & Entities
- Illumina, Inc. (company) — Registrant
- GRAIL, LLC (company) — Acquired entity
- September 4, 2024 (date) — Closing date of acquisition
- September 18, 2023 (date) — Date of initial acquisition announcement
FAQ
What is the primary purpose of this 8-K filing?
This 8-K filing announces the completion of Illumina, Inc.'s acquisition of GRAIL, LLC.
When was the acquisition of GRAIL, LLC completed?
The acquisition of GRAIL, LLC was completed on September 4, 2024.
When was the acquisition of GRAIL, LLC initially announced?
The acquisition of GRAIL, LLC was initially announced on September 18, 2023.
What regulatory approvals were required for this acquisition?
The filing states that Illumina has received the necessary regulatory approvals to close the transaction.
What is the business of GRAIL, LLC?
GRAIL, LLC is involved in cancer detection technology, which Illumina aims to integrate into its platform.
Filing Stats: 451 words · 2 min read · ~2 pages · Grade level 11.1 · Accepted 2024-09-05 17:27:02
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value ILMN The Nasdaq Stock Mar
- $500,000,000 — iced an underwritten public offering of $500,000,000 aggregate principal amount of its 4.650
- $750 million — tion of the outstanding indebtedness of $750 million under the 364-day delayed draw credit a
Filing Documents
- d856020d8k.htm (8-K) — 21KB
- g856020g0905075849054.jpg (GRAPHIC) — 1KB
- 0001193125-24-214335.txt ( ) — 139KB
- ilmn-20240904.xsd (EX-101.SCH) — 2KB
- ilmn-20240904_lab.xml (EX-101.LAB) — 17KB
- ilmn-20240904_pre.xml (EX-101.PRE) — 11KB
- d856020d8k_htm.xml (XML) — 3KB
From the Filing
8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 4, 2024 Illumina, Inc. (Exact name of registrant as specified in its charter) 001-35406 (Commission File Number) Delaware 33-0804655 (State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.) 5200 Illumina Way , San Diego , CA 92122 (Address of principal executive offices) (Zip code) ( 858 ) 202-4500 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value ILMN The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13a of the Exchange Act. Item8.01. Other Events. On September 4, 2024, Illumina, Inc. ("Illumina") priced an underwritten public offering of $500,000,000 aggregate principal amount of its 4.650% notes due 2026 under an effective shelf registration statement previously filed with the Securities and Exchange Commission. The offering is expected to close on September 9, 2024, subject to customary closing conditions. Illumina expects to use the net proceeds from the offering to repay a portion of the outstanding indebtedness of $750 million under the 364-day delayed draw credit agreement that was entered into in connection with the spin-off of GRAIL, Inc. from Illumina and to pay any related fees and expenses. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: September 5, 2024 ILLUMINA, INC., By /s/ Ankur Dhingra Name: Ankur Dhingra Title: Chief Financial Officer