ILMN - Once Valued At Around $7B Cancer Blood Test Developer Grail To Kickstart Trading On NASDAQ | Benzinga
Nearly four years after first pitching for Grail Inc. (NASDAQ:GRAL), Illumina Inc. (NASDAQ:ILMN) announced Monday that it would spin off the cancer blood test developer.
In July 2021, Illumina said it was committed to re-acquiring Grail.
Starting today, 25 June, Grail will begin trading the “regular way” under its own Nasdaq ticker, GRAL, as an independent public firm.
Earlier this month, Illumina laid out its plans for the Grail spin-off and said its shareholders will retain their current shares of Illumina common stock and, on the distribution date, also receive one share of GRAIL common stock for every six shares of Illumina common stock.
Illumina will maintain a 14.5% share of the company.
As previously disclosed, Illumina entered into ...