Illumina Approves Grail's Spin-off and Independent Listing on Nasdaq Under Ticker 'GRAL'

In the end, the shareholders bore all the burden.

——Preface

A few hours ago, the other shoe dropped.

On June 25, we will welcome NASDAQ: GRAL.

In the previous "Prediction," we left a cliffhanger:

Although it is not yet a done deal in terms of wording, our judgment is: this should be the final outcome.

The Interesting Fat Guy, WeChat Official Account: The Interesting Fat Guy - One in Ten ThousandGrand Finale: Illumina Decides to "Give Away" Grail for Free

We are glad that we guessed correctly.

Ultimately, the Illumina Board "chose" the plan for GRAIL to pursue an independent spin-off and IPO.

——Of course, you could also say it had no choice.

Since proposing the "sell or split" either-or option last December, Illumina had been signaling that "there are buyers interested" and "the offers are good," until last month when the tone shifted.

We have already discussed the specific details and impacts of the spin-off in great detail in our analysis from a month ago. Those with sufficient traffic can take a look:

TL;DR version is here:

• Illumina retains 14.5% of GRAIL's shares, with the remaining 85.5% of GRAIL's shares to be distributed according to"For every 6 shares of Illumina, receive 1 share of GRAIL"in a way that is distributed free of charge to shareholders.

• Prior to June 25, ILMN stocks with Grail rights will continue to be traded——Friends who want to get GRAIL "original shares" should not buy the wrong ones., There are two codes, ILMN and ILMN WI. The former comes with equity, while the latter does not.

• Before June 25, Grail "original shares" could be traded on Nasdaq, with the stock code GRAL WI.

• Grail will officially go public on NASDAQ on June 25, with the stock trading code GRAL.

Let me share some gossip:

• Illumina "Blood Loss" $10 Million

Compared to the previously announced $778 million "breakup fee," Illumina will have to pay an additional approximately $10 million.

——Because of procrastination.

According to the previously announced terms, with June 12 as the Distribution Date baseline, each additional week would incur an extra $5 million.

Of course, considering the ins and outs of this matter, ILMN has already "lost" nearly 100 billion US dollars.

This 10 million doesn't seem so painful anymore.

Let's make some irresponsible predictions:

Although the baton of history has briefly been passed to the G Quartet, this is not expected to be a long-term state.

GRAIL should eventually have its own "controlling shareholder" through public market trading.

Of course, all of this has little to do with Illumina.

As CEO Jacob said:

"This is a milestone for Illumina, representing an important step forward for the company."

At the very least, he has "perfectly" fulfilled his promise to the shareholders.

——The CEO has率先 completed the targets, and the next step is to assign targets to others.

What lies ahead for Grail is the vast, uncharted territory of early cancer screening.

And, a hefty nearly 1 billion US dollars.

Wish him good luck!

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