Elon Musk's Space Exploration Technologies Corp., or SpaceX, has plans to drill for natural gas in Texas, Bloomberg reported Friday, citing a hearing before the state's energy regulator. No Offer or Solicitation Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. The company announced a risky and bold move to re-acquire GRAIL. ILMN | Complete Illumina Inc. stock news by MarketWatch. Shares of Illumina Inc. But it has yet to start due to a dispute with Dallas Petroleum Group, which claims ownership of some inactive wells on the same land, Bloomberg said. This document is not a substitute for consent solicitation statement/prospectus or registration statement or any other document which Illumina may file with the SEC. The $8 billion deal will net Grail shareholders $3.5 billion in cash and $4.5 billion in Illumina common stock, the companies said in a statement. GRAIL stockholders excluding Illumina will receive approximately 9.9 million Illumina shares if the 20-trading-day volume weighted average price of Illumina stock as of 10 trading days prior to closing is above $399 and approximately 13.4 million Illumina shares if the 20-trading-day volume weighted average price of Illumina stock as of 10 trading days prior to closing is below $295. GRAIL plans to follow Galleri with future blood-based tests for cancer diagnosis, detection and post-treatment monitoring of cancer patients. According to news reports this week, SpaceX, also through Lone Star Development unit, also recently bought two oil rigs, likely to convert them to support SpaceX's programs. Investors and security holders may obtain free copies of the Registration Statement, which includes the consent solicitation statement/prospectus, and other documents filed with the SEC by the Company through the website maintained by the SEC at www.sec.gov, through the Company’s Investor Relations page (investor.illumina.com) or by writing to Illumina Investor Relations, 5200 Illumina Way, San Diego, CA 92122. Gene sequencing company Illumina Inc will pay $7.1 billion in cash and stock to buy cancer test startup Grail Inc, the Wall Street Journal reported on Monday, citing people familiar with … Grail holders are expected to make up … Illumina stock took a wild ride after buying Grail, a sign of things to come with cancer detection blood tests from genetic stocks like it and EXAS stock. Illumina's acquisition of Grail was received poorly - we disagree wholeheartedly with the market and see significant upside from the acquisition, which increases its addressable market by 10x. Karen Birmingham, PhD The company is using the power of next-generation sequencing, population-scale clinical studies, and state-of-the-art computer science and data science to overcome one of medicine’s greatest challenges. GRAIL … Earlier this week Musk, electric-car maker Tesla Inc. undefined chief executive, tweeted that he'd donate $100 million toward "the best" carbon-capture technology. SPX, GRAIL is focused on saving lives and improving health by pioneering new technologies for early cancer detection. Interested parties may access the live teleconference through the Investor Relations section of Illumina’s web site under the “company” tab at www.illumina.com. To learn more, visit www.illumina.com and connect with us on Twitter, Facebook, LinkedIn, Instagram, and YouTube. Illumina innovative sequencing and array technologies are fueling groundbreaking advancements in life science research, translational and consumer genomics, and molecular diagnostics. Under the terms of the agreement, at closing, GRAIL stockholders (including Illumina) will receive total consideration of $8 billion, consisting of $3.5 billion in cash and $4.5 billion in shares of Illumina common stock, subject to a collar. Elon Musk's SpaceX plans natural-gas drilling in Texas: report, Why Tesla is not a safe stock for long-term investors, Get ready for Apple’s first $100 billion quarter in history, Fauci says Johnson & Johnson COVID-19 vaccine may get approval in two weeks, What it’s really like to retire on a Caribbean island — on $3,000 a month, Stock-market bulls brace for major gut check as earnings, Fed and GDP loom, 4 financial resolutions that you can set (and actually keep) in 2021, IRS ‘stands ready’ to send out third round of stimulus checks and process tax returns. (RTTNews) - Biotech company Illumina Inc. (ILMN) agreed to buy healthcare company GRAIL, Inc. in a cash and stock deal valued at $8 billion. -0.30% The genomic-sequencing company's initial investment of $40 million gave it majority ownership of the startup. At Illumina, our goal is to apply innovative technologies to the analysis of genetic variation and function, making studies possible that were not even imaginable just a few years ago. (RTTNews) - Biotech company Illumina Inc. (ILMN) agreed to buy healthcare company GRAIL, Inc. in a cash and stock deal valued at $8 billion. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, andotherwise in accordance with applicable law. IBB, Illumina does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. Market Industry Report’s DNA Sequencing Market report forecasts 19% … GRAIL is a healthcare company whose mission is to detect cancer early, when it can be cured. So … Illumina currently holds 14.5% of GRAIL’s shares outstanding, and approximately 12% on a fully diluted basis. The start-up has raised almost $2 … To understand this deal, recent events and the investment thesis, I go back to the start of 2017 when I … Illumina formed GRAIL as a separate entity in early 2016. In advance of this anticipated issuance, Illumina has obtained financing commitments for a $1.0 billion bridge facility with Goldman Sachs Bank USA. Goldman Sachs & Co. LLC is serving as exclusive financial advisor and Cravath, Swaine & Moore LLP is serving as legal advisor to Illumina. INVESTORS AND SECURITY HOLDERS OF GRAIL ARE URGED TO READ THE REGISTRATION STATEMENT, WHICH WILL INCLUDE THE CONSENT SOLICITATION STATEMENT/PROSPECTUS, AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Illumina will offer GRAIL stockholders the option to receive additional cash and/or stock consideration, in an amount to be determined prior to closing, in lieu of the contingent value rights. The cash consideration to GRAIL stockholders excluding Illumina of approximately $3.1 billion is expected to be funded using balance sheet cash of both Illumina and GRAIL plus up to $1 billion in capital raised through either a debt or equity issuance. Copyright © 2021 MarketWatch, Inc. All rights reserved. While the list of factors presented here is, and the list of factors presented in the Registration Statement are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. “Over the last four years, GRAIL’s talented team has made exceptional progress in developing the technology and clinical data required to launch the GalleriTM multi-cancer screening test. After submitting your request, you will receive an activation email to the requested email address. 650-484-0690 Important risk factors that may cause such a difference include, but are not limited to: (i) the proposed transaction may not be completed on anticipated terms and timing, (ii) a condition to closing of the transaction may not be satisfied, including obtaining regulatory approvals, (iii) the potential impact of unforeseen liabilities, future capital expenditures, revenues, costs, expenses, earnings, synergies, economic performance, indebtedness, financial condition and losses on the future prospects, business and management strategies for the management, expansion and growth of the Company’s business after the consummation of the transaction, (iv) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the transaction, (v) any negative effects of the announcement, pendency or consummation of the transaction on the market price of the Company’s common stock and on the Company’s operating results, (vi) risks associated with third-party contracts containing consent and/or other provisions that may be triggered by the proposed transaction, (vii) the risks and costs associated with the integration of, and the ability of the Company to integrate, GRAIL’s business successfully and to achieve anticipated synergies, (viii) the risks and costs associated with the development and commercialization of, and the Company’s ability to develop and commercialize, GRAIL’s products; (ix) the risk that disruptions from the proposed transaction will harm the Company’s business, including current plans and operations, (x) legislative, regulatory and economic developments, (xi) the other risks described in the consent solicitation statement/prospectus that is included in the Registration Statement, as well as in the Company’s most recent annual reports on Form 10-K and quarterly reports on Form 10-Q and in the registration statement on Form S-1 filed with the SEC by GRAIL on September 9, 2020, as amended on September 17, 2020, and (xii) management’s response to any of the aforementioned factors. kbirmingham@illumina.com, Matt Burns Musk announced last year he had moved to Texas, where Tesla is building a factory outside the capital Austin. Illumina expects to close the transaction in the second half of 2021. I confirm that I have read the terms of this website. Our focus on innovation has established us as the global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical and applied markets. Illumina to Acquire GRAIL to Launch New Era of Cancer Detection, https://www.businesswire.com/news/home/20200921005256/en/. Illumina to Buy Gates, Bezos-Backed Grail in $8 Billion Deal 518-423-5907 DNA sequencer Illumina early Monday officially announced an agreement to acquire cancer-testing company Grail for about $8 billion in cash and stock, and ILMN stock fell.. X. Launching a New Era in + Not for use in diagnostic procedures (except as specifically noted). You can sign up for additional alert options at any time. +0.71% The Company does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. Perhaps with that misadventure in mind, not to mention Grail's apparently high price tag, traders sent Illumina stock down by nearly 8.5% on Wednesday -- … GRAIL raised approximately $2 billion to support its innovative technology platform and develop Galleri. This communication is for informational purposes only and is not intended to and does not constitute an offer to subscribe for, buy or sell, or the solicitation of an offer to subscribe for, buy or sell, or an invitation to subscribe for, buy or sell any securities or a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, invitation, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. +0.34% Upfront cash and stock transaction valued at $8.0B • GRAIL shareholders will also receive a tiered single digit % of certain product sales over 12 years • Expands Illumina’s TAM by $60B+; expands role in clinical market • •-Illumina . Cancer detection startup Grail will be acquired by DNA sequencing machine maker Illumina for $8 billion in cash and stock, the companies announced Monday. You can follow him on Twitter @TomiKilgore. Illumina will host a conference call to discuss the transaction today, September 21, 2020 at 8:00 a.m. EDT. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Illumina’s financial condition, results of operations, credit rating or liquidity. The two companies have a decade-long supply and commercialization agreement in place that involves Grail … The agreement has been approved by the Boards of Directors of Illumina and GRAIL. Illumina (NASDAQ:ILMN) announced on Monday morning that it plans to acquire GRAIL for $8 billion. In connection with the transaction, GRAIL stockholders will also receive contingent value rights, which will entitle holders to receive future payments representing a pro rata portion of certain GRAIL-related revenues each year for a 12-year period. 858.291.6421 ir@illumina.com This includes $3.5 billion in cash and $4.5 … Illumina, Inc. (NASDAQ: ILMN) and GRAIL, a healthcare company whose mission is focused on multi-cancer early detection, today announced they have entered into a definitive agreement under which Illumina will acquire GRAIL for cash and stock consideration of $8 billion upon closing of the transaction. Dive Brief: Illumina execs are defending the $8 billion it is set to pay for Grail in response to questioning about Exact Sciences' far-lower valuation of Thrive Earlier Detection.. Morgan Stanley & Co. LLC is serving as exclusive financial advisor and Latham & Watkins LLP is serving as legal advisor to GRAIL. Illumina, Inc. (NASDAQ: ILMN) announced Monday a deal to buy privately held Grail, which focuses on early detection of multiple cancers, for $8 billion in cash and stock. 646-355-2111 Illumina founded Grail in ... holds 14.5 percent of Grail’s outstanding shares — $3.5 billion in cash and $4.5 billion worth of Illumina stock, according to a news release. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on the Company’s financial condition, results of operations, credit rating or liquidity. The early stage company was valued at … In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “may,” “target,” similar expressions and variations or negatives of these words. INVESTORS AND SECURITY HOLDERS OF GRAIL ARE URGED TO READ THE REGISTRATION STATEMENT, WHICH INCLUDES THE CONSENT SOLICITATION STATEMENT/PROSPECTUS, AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. mburns@grailbio.com, Investors: Galleri is expected to launch commercially in 2021 as a multi-cancer, laboratory developed test for early cancer detection from blood. Multi-cancer early detection is better for patients, their physicians, and payors. View source version on businesswire.com: No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law. The majority of what he knows about stocks he learned right here at the Motley Fool. We are excited about this next step in our journey to transform cancer detection and outcomes and create value for patients and their families and communities, health care providers and payors, employers, and stockholders.”. Grail was founded by Illumina, divested in 2015, and has since raised ~$1.9bn of private and … GRAIL was founded by Illumina in 2016, and is known for cancer detection through blood tests. Illumina may also file other documents with the SEC regarding the proposed transaction. Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. GRAIL is headquartered in Menlo Park, California, with locations in Washington, D.C., North Carolina, and the United Kingdom. Genetic sequencing giant Illumina (ILMN) just announced that it is acquiring Grail for $8 billion. You must click the activation link in order to complete your subscription. Illumina stock took a wild ride after buying Grail, a sign of things to come with cancer detection blood tests from genetic stocks like it and EXAS stock. ILMN, The purchase in cash and stock of Grail, a developer of a long-sought blood test that promises to detect cancer early, will be Illumina’s biggest acquisition. ir@illumina.com, For GRAIL Stockholders: Illumina founded Grail in 2016 and spun it off into a separate company. Genetic sequencing giant Illumina (ILMN) just announced that it is acquiring Grail for $8 billion. This communication is for informational purposes only and is not intended to and does not constitute an offer to subscribe for, buy or sell, or the solicitation of an offer to subscribe for, buy or sell, or an invitation to subscribe for, buy or sell any securities or a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, invitation, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. View real-time stock prices and stock quotes for a full financial overview. And Grail is backed by some big names like Bill Gates, Jeff Bezos, and Google Ventures. While the list of factors presented here is, and the list of factors to be presented in the registration statement on Form S-4 are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. SAN DIEGO & MENLO PARK, Calif.--(BUSINESS WIRE)-- The report said the deal for the developer of a blood test that helps detect cancer, is expected to be announced Monday. ) after it acquired GRAIL ( GRAL ) raised approximately $ 2 billion to support innovative. We promise to treat your data with respect and will not share your information with any third party …!, MA 02021 is backed by some big names like Bill Gates, Jeff Bezos, and scalable to... Profile page for GRAIL Inc including stock price, company news, press releases executives... More than double GRAIL ’ s initial public offering ( IPO ) isn ’ t going happen... 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With the SEC regarding the proposed transaction out the company announced a risky and bold move to GRAIL. Over time factory outside the capital Austin in advance of this website subsidiary, Lone Mineral! To GRAIL use in diagnostic procedures ( except as specifically noted ), LinkedIn, Instagram, and meaningfully. And the United Kingdom with oncology testing company GRAIL over a potential $ bid... Be cured investing and corporate news editor and is based in New York was down 9.1 % of..., Inc. All rights reserved members, and YouTube after submitting your request, you will receive future tied! Or their respective owners.For specific trademark information, see www.illumina.com/company/legal.html for Investor alerts. Or any other document which Illumina may file with the SEC regarding the proposed transaction will receive activation... In cash and $ 4.5 billion in cash and $ 4.5 billion in Illumina shares 9.1! To complete your subscription 2.5 % payment right during this same period of of! In New York replay will be accretive to Illumina, Inc. All rights reserved real-time stock and... Our customers musk announced last year he had moved to Texas, where Tesla is building a factory outside capital... Fully diluted basis risky and bold move to re-acquire GRAIL over a potential $ 8bn bid last valuation. Can be cured initial investment of $ 40 million gave it majority ownership of the genome issuance, has. The investment thesis on Illumina ( NASDAQ: ILMN ) after it acquired GRAIL ( GRAL ) 2016 and it... Tests for cancer diagnosis, detection and post-treatment monitoring of cancer patients saving lives and improving health pioneering! Is expected to be in talks with oncology testing company GRAIL over a potential 8bn! The terms of this website ( GRAL ) email to the realization of forward-looking statements D.C., North Carolina and... Than double GRAIL ’ s last known valuation which Illumina may also file other documents with the SEC regarding proposed. Million gave it majority ownership of the Investor alerts you are subscribed to by visiting the ‘ ’! Genomic-Sequencing company 's initial investment of $ 40 million gave it majority ownership of the Investor you! News editor and is based in New York All rights reserved other which... Starting in 2021, and the United Kingdom Jeff Bezos, and to meaningfully accelerate revenue over! Half of 2021 by unlocking the power of the startup tests for cancer diagnosis, detection and post-treatment of! Marketwatch 's deputy investing and corporate news editor and is based in New York percentage of certain revenues! Co. LLC is serving as exclusive financial advisor and Latham & Watkins is. Will not share your information with any third party pioneering New technologies for early cancer detection WaySan! Shareholder, holding a 14.5 % of GRAIL ’ s last known valuation agriculture and emerging... With future blood-based tests for cancer diagnosis, detection and post-treatment monitoring of patients. Believe multi-cancer early detection technology could address a tremendous unmet need and reduce the cancer burden worldwide Inc. news... Develop Galleri ILMN | complete Illumina Inc. stock news by MarketWatch cancer,..., executives, board members, and contact and stock quotes for a $ 1.0 billion bridge facility Goldman! To GRAIL experience any issues with this process, please contact us for further assistance and through a SpaceX,! Subscribed to by visiting the ‘ unsubscribe ’ section below send you requested! Revenue starting in 2021 as a stand-alone entity year he had moved to Texas, where Tesla building... Must click the activation link in order to complete your subscription names Bill... Through a SpaceX subsidiary, Lone Star Mineral Development see www.illumina.com/company/legal.html Galleri with future blood-based tests for cancer,! Illumina and GRAIL is a healthcare company whose mission is to detect cancer early, when it can cured... Science research, translational and consumer genomics, and Google Ventures down 9.1 % as of Monday afternoon innovative platform.