8-K
filed June 24, 2024, 7:59 PM ET
ticker GRAL
CIK 0001699031
M&A
confidence high
sentiment positive
materiality 0.95
GRAIL, Inc. (GRAL): M&A transaction — GRAIL completes spin-off from Illumina; receives $932M funding, starts trading June 25
GRAIL, Inc.
- Illumina distributed 85.5% of GRAIL shares to its shareholders (1 per 6 shares) on June 24, 2024; Illumina retains 14.5%.
- GRAIL received ~$932.3M one-time disposal funding from Illumina; begins trading on Nasdaq under GRAL on June 25.
- New board of four directors appointed: Bill Chase, Steve Mizell, Greg Summe (Chair), Robert Ragusa; Ragusa named CEO, Freidin CFO.
- GRAIL converted from LLC to corporation; adopted new certificate of incorporation, bylaws, equity plans, and indemnification agreements.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robert Ragusa was appointed as Chief Executive Officer at GRAIL, Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
Robert Ragusa Chief Executive Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.9
Ankur Dhingra departed as Director at GRAIL, Inc..
- Action
- ceased to be director
- Role
- Director
Exact text from the filing
Charles Dadswell, Ankur Dhingra and William (Bill) Chase ceased to be directors of GRAIL, LLC, the Company’s predecessor.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.9
William (Bill) Chase departed as Director at GRAIL, Inc..
- Action
- ceased to be director
- Role
- Director
Exact text from the filing
Charles Dadswell, Ankur Dhingra and William (Bill) Chase ceased to be directors of GRAIL, LLC, the Company’s predecessor.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Gregory (Greg) Summe was appointed as Director at GRAIL, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
William (Bill) Chase, Steve Mizell, Gregory (Greg) Summe and Robert Ragusa were appointed to the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Gregory (Greg) Summe was appointed as Chair of the Board at GRAIL, Inc..
- Action
- appointed
- Role
- Chair of the Board
Exact text from the filing
Mr. Summe was appointed as the Chair of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Josh Ofman was appointed as President at GRAIL, Inc..
- Action
- appointed
- Role
- President
Exact text from the filing
Josh Ofman President
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Aaron Freidin was appointed as Chief Financial Officer at GRAIL, Inc..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
Aaron Freidin Chief Financial Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Steve Mizell was appointed as Director at GRAIL, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
William (Bill) Chase, Steve Mizell, Gregory (Greg) Summe and Robert Ragusa were appointed to the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robert Ragusa was appointed as Director at GRAIL, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
William (Bill) Chase, Steve Mizell, Gregory (Greg) Summe and Robert Ragusa were appointed to the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
William (Bill) Chase was appointed as Director at GRAIL, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
William (Bill) Chase, Steve Mizell, Gregory (Greg) Summe and Robert Ragusa were appointed to the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.9
Charles Dadswell departed as Director at GRAIL, Inc..
- Action
- ceased to be director
- Role
- Director
Exact text from the filing
Charles Dadswell, Ankur Dhingra and William (Bill) Chase ceased to be directors of GRAIL, LLC, the Company’s predecessor.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.95
GRAIL, Inc. underwent a change of control involving Illumina, Inc. for pro rata distribution of 85.5% of outstanding shares of GRAIL common stock to Illumina stockholders (closed 2024-06-24).
- Action
- change of control
- Counterparty
- Illumina, Inc.
- Consideration
- pro rata distribution of 85.5% of outstanding shares of GRAIL common stock to Illumina stockholders
- Closing
- 2024-06-24
Exact text from the filing
the “Company,” “we,” “us” or “our”) from Illumina, Inc. (“Illumina”) was completed. The Separation of GRAIL from Illumina was achieved through Illumina’s pro rata distribution of 85.5% of the outstanding shares of GRAIL common stock to holders of record of Illumina common stock as of the close of business on June 13, 2024 (the “Record Date”). Each holder of
View on SEC.gov
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