Illumina 8-K: Exit/Disposal Costs & Other Events

Ticker: ILMN · Form: 8-K · Filed: 2024-06-03T00:00:00.000Z

Sentiment: neutral

Topics: restructuring, disposal, corporate-events

TL;DR

Illumina filing 8-K for exit/disposal costs - details TBD.

AI Summary

On June 3, 2024, Illumina, Inc. filed an 8-K to report on cost associated with exit or disposal activities and other events. The filing does not contain specific dollar amounts or detailed explanations of these activities at this time.

Why It Matters

This filing indicates Illumina is undergoing restructuring or divesting certain operations, which could impact future financial performance and strategic direction.

Risk Assessment

Risk Level: medium — The filing mentions costs associated with exit or disposal activities, which can signal restructuring or operational changes that may carry financial risks.

Key Players & Entities

FAQ

What specific activities are associated with the reported exit or disposal costs?

The filing does not provide specific details on the nature of the exit or disposal activities.

When did these exit or disposal activities commence?

The filing reports on events as of June 3, 2024, but does not specify the commencement date of these activities.

Are there any financial estimates for these exit or disposal costs disclosed?

No specific dollar amounts or financial estimates for the exit or disposal costs are provided in this filing.

What are the 'Other Events' being reported?

The filing lists 'Other Events' as an item but does not elaborate on their nature.

What is the primary business of Illumina, Inc. according to the filing?

Illumina, Inc. is involved in the Laboratory Analytical Instruments industry, SIC code 3826.

From the Filing

0001193125-24-153239.txt : 20240603 0001193125-24-153239.hdr.sgml : 20240603 20240603172532 ACCESSION NUMBER: 0001193125-24-153239 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240603 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities ITEM INFORMATION: Other Events FILED AS OF DATE: 20240603 DATE AS OF CHANGE: 20240603 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ILLUMINA, INC. CENTRAL INDEX KEY: 0001110803 STANDARD INDUSTRIAL CLASSIFICATION: LABORATORY ANALYTICAL INSTRUMENTS [3826] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 330804655 STATE OF INCORPORATION: DE FISCAL YEAR END: 1229 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35406 FILM NUMBER: 241015053 BUSINESS ADDRESS: STREET 1: 5200 ILLUMINA WAY CITY: SAN DIEGO STATE: CA ZIP: 92122 BUSINESS PHONE: 8582024500 MAIL ADDRESS: STREET 1: 5200 ILLUMINA WAY CITY: SAN DIEGO STATE: CA ZIP: 92122 FORMER COMPANY: FORMER CONFORMED NAME: ILLUMINA INC DATE OF NAME CHANGE: 20000331 8-K 1 d700243d8k.htm 8-K 8-K false 0001110803 0001110803 2024-06-03 2024-06-03     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): June 3, 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. ☐       Item 2.05. Costs Associated with Exit or Disposal Activities. In connection with the Spin-Off (as defined and described below), Illumina, Inc. (the “Company” or “Illumina”) estimates that it will incur incremental charges of approximately $35 - $50 million, primarily comprised of cash expenditures relating to legal and advisory fees. The Company expects that the majority of these charges will be incurred in the second quarter of 2024 and substantially all of these charges will have been incurred by the third quarter of 2024. Additionally, the approval of the Spin-Off by Illumina’s board of directors repr

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