Illumina Board Approves Spin-Off Of GRAIL, 'When-Issued' Trading Expected To Begin On Or About June 12, 2024
Portfolio Pulse from Benzinga Newsdesk
Illumina's Board has approved the spin-off of GRAIL, with 'when-issued' trading expected to start around June 12, 2024. GRAIL will list on Nasdaq as 'GRAL' and Illumina shareholders will receive 85.5% of GRAIL's common stock, while Illumina retains 14.5%.
June 03, 2024 | 9:25 pm
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GRAIL is set to spin off from Illumina and list on Nasdaq as 'GRAL' on June 24, 2024, with 'when-issued' trading starting around June 12, 2024.
The listing of GRAIL on Nasdaq and the spin-off from Illumina are likely to generate investor interest and potentially drive up the stock price of GRAIL in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Illumina's Board has approved the spin-off of GRAIL, with 'when-issued' trading expected to start around June 12, 2024. Illumina shareholders will receive 85.5% of GRAIL's common stock, while Illumina retains 14.5%.
The spin-off of GRAIL is a significant corporate action for Illumina, likely to positively impact its stock price in the short term due to the distribution of GRAIL shares to Illumina shareholders and the potential value unlocked by the spin-off.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100