Illumina’s Board Approves Spin-Off of Grail, a Cancer Diagnostics Firm

1. Spin-Off Decision: Illumina's board of directors has approved the spin-off of Grail, a cancer diagnostics firm, instead of selling it.
2. Spin-Off Date: Grail is expected to spin off from Illumina on June 24, 2024.
3. Listing on Nasdaq: Grail has applied to list on Nasdaq under the ticker symbol "GRAL".
4. Share Distribution: Illumina shareholders will receive one share of Grail common stock for every six shares of Illumina common stock held at the close of business on June 13, 2024.
5. Illumina's Retained Stake: Illumina will retain 14.5% of Grail's outstanding shares.
6. Grail's Mission: Grail aims to detect cancer early using next-generation sequencing, clinical studies, and machine learning.