Illumina Completes GRAIL Acquisition

Ticker: ILMN · Form: 8-K · Filed: 2024-09-05T00:00:00.000Z

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

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.

From the Filing

0001193125-24-214335.txt : 20240905 0001193125-24-214335.hdr.sgml : 20240905 20240905172702 ACCESSION NUMBER: 0001193125-24-214335 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240904 ITEM INFORMATION: Other Events FILED AS OF DATE: 20240905 DATE AS OF CHANGE: 20240905 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: 241282290 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 d856020d8k.htm 8-K 8-K 0001110803 false 0001110803 2024-09-04 2024-09-04     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. ☐       Item 8.01. 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 a

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