SCHEDULE: Farallon Capital Discloses Stake in GRAIL, Inc.

Farallon Capital Management entities have reported beneficial ownership of over 5% of GRAIL, Inc. common stock, holding both shares and exercisable warrants.

Summary

• This filing is an amendment to a Schedule 13G, indicating a change in beneficial ownership of GRAIL, Inc. common stock by various entities and individuals associated with Farallon Capital Management.
• The reporting persons collectively hold 2,682,663 shares of GRAIL, Inc. common stock.
• Additionally, they hold 571,021 Pre-Funded Common Stock Purchase Warrants, each exercisable for one share of common stock.
• The beneficial ownership is reported as of March 31, 2026, with the filing date being May 11, 2026.
• The total reported beneficial ownership, including shares underlying the warrants, represents 7.8% of GRAIL, Inc.'s outstanding common stock.
• Individual reporting entities include various Farallon Capital L.P. funds, their general partners, and several individual managing members.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it primarily reports ownership changes and does not provide operational or financial performance data for GRAIL, Inc.

Positives

• Farallon Capital Management has increased its stake in GRAIL, Inc., potentially signaling confidence in the company's future prospects.
• The aggregate beneficial ownership of 7.8% indicates a significant investment position.

Negatives

• The filing does not contain any financial performance data or operational updates for GRAIL, Inc., making it difficult to assess the underlying business performance.
• The nature of the investment (warrants) suggests a potentially longer-term or more speculative investment strategy.

Risks

• The exercise of warrants is subject to a Beneficial Ownership Limitation of 9.99%, which could restrict the ability to fully convert all warrants if GRAIL's outstanding shares increase significantly.
• The filing does not provide specific reasons for the increased stake, leaving the strategic intent open to interpretation.

Future Outlook

The filing does not contain forward-looking statements or guidance from GRAIL, Inc. The information pertains to the beneficial ownership of securities by Farallon Capital entities.

Industry Context

StockSavvy.ai notes that Schedule 13G filings typically report passive investments by institutional investors. The significant stake held by Farallon Capital, including exercisable warrants, suggests a notable interest in GRAIL, Inc.'s equity, which is common in the biotechnology and healthcare sectors where companies often rely on strategic partnerships and capital infusions.

Stakeholder Impact

• Shareholders of GRAIL, Inc. may view the increased stake by a significant investment firm like Farallon Capital as a positive signal, potentially indicating confidence in the company's long-term value.
• The presence of a large institutional holder could influence future corporate actions or strategic decisions.

Next Steps

• Monitor future SEC filings from Farallon Capital for any changes in their stake in GRAIL, Inc.
• Observe GRAIL, Inc.'s future disclosures for any strategic implications related to this significant ownership.

Key Dates

Keywords

GRAIL Inc, Schedule 13G, Farallon Capital, Beneficial Ownership, Warrants, SEC Filing, Amendment, Common Stock, Investment