Invitae Corp: restructuring charge — Invitae estimates ~$170M in total costs for strategic realignment plan

Invitae Corp

Total expected costs of about $170M in cash and non-cash charges including severance and asset disposal.
Realignment plan expected to be completed by September 30, 2023.
Amendment updates previously disclosed plan from July 2022 with cost estimates.
Costs may change; actual timing and total subject to risks.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Invitae Corp announced a restructuring with charges of approximately $170 million in cash and non-cash charges affecting core genome sequencing and genome management platforms.

Type: restructuring
Charge: approximately $170 million in cash and non-cash charges
Affected area: core genome sequencing and genome management platforms

Exact text from the filing

As disclosed in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the Commission on November 8, 2022, the Company expects that its strategic realignment plan will be completed by September 30, 2023, and estimates that total costs related to the realignment plan will be approximately $170 million in cash and non-cash charges, including employee severance and benefits expenses, losses on asset disposals and other restructuring costs.

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Source: SEC EDGAR

accession 0001193125-22-280410

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