secwatch.observer — SEC 8-K summary
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Issuer:     ILLUMINA, INC. (ILMN)
CIK:        0001110803
Form:       8-K
Filed at:   2024-06-03T23:59:59+00:00
Accession:  0001193125-24-153239
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.05, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Illumina board approves GRAIL spin-off; distribution set for June 24, 2024
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- Holders receive 1 GRAIL share per 6 Illumina shares held at close on June 13, 2024 (record date).
- Distribution effective 12:01 AM NYC time on June 24, 2024; GRAIL expected to trade 'regular way' on Nasdaq on June 25 under ticker 'GRAL'.
- Illumina estimates $35-$50M incremental costs for spin-off, mainly legal and advisory fees, substantially incurred by Q3 2024.
- Spin-off approval triggers potential goodwill impairment test; carrying value includes $1.466B goodwill and $561M IPR&D related to GRAIL.
- Conditions include satisfaction or waiver of conditions in GRAIL's Form 10; no stockholder vote or action required.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1110803/000119312524153239/0001193125-24-153239-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1110803/000119312524153239/d700243d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-153239

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