Form 4: Illumina Reports Changes in Beneficial Ownership of GRAIL, Inc. Following Corporate Conversion and Stock Distribution

Illumina, Inc. reports a change in its beneficial ownership of GRAIL, Inc. due to GRAIL's conversion to a corporation and the pro rata distribution of GRAIL shares to Illumina's stockholders.

Summary

• Illumina, Inc. filed a Form 4 on June 24, 2024, regarding changes in its beneficial ownership of GRAIL, Inc.
• On June 3, 2024, Illumina reported owning 100% of GRAIL, LLC's membership interests.
• On June 21, 2024, GRAIL, LLC converted from a limited liability company to a corporation named GRAIL, Inc.
• The conversion resulted in the outstanding limited liability company interests changing to 31,049,147 shares of GRAIL, Inc. common stock.
• Illumina distributed 26,547,021 shares of GRAIL, Inc. common stock to its shareholders on June 24, 2024.
• Following the distribution, Illumina directly owns 4,502,126 shares of GRAIL, Inc.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing ownership changes, so the sentiment is neutral. It reflects a planned corporate action.

Industry Context

This announcement reflects the ongoing corporate restructuring and ownership changes related to GRAIL, a company focused on early cancer detection, following its acquisition by Illumina and subsequent regulatory challenges.

Stakeholder Impact

• Shareholders of Illumina received shares of GRAIL, Inc. as part of the distribution.
• GRAIL, Inc. now operates as a separate publicly traded entity.

Key Dates