Illumina submits Form 10 to SEC related to potential GRAIL divestiture

Illumina announced that it has confidentially submitted a draft registration statement on Form 10 related to its potential divestiture of GRAIL to the U.S. Securities and Exchange Commission, pursuant to an order Illumina received from the European Commission directing the company to divest GRAIL. Submission of this registration statement is an important next step in evaluating divestiture options for GRAIL. Illumina is committed to resolving all issues regarding GRAIL in a timely manner, with the objective of achieving the maximum value for shareholders and the best outcome for GRAIL. Under the terms of the EC’s order, Illumina is permitted to explore a range of structures including, but not limited to, a third-party sale or a capital markets transaction. Illumina is leading the divestiture process with the assistance of financial and legal advisors. Illumina maintains that the Commission does not have jurisdiction over this acquisition. If Illumina wins its jurisdictional challenge at the European Court of Justice, the basis for the EC’s divestiture order would be eliminated. However, if Illumina is not successful with either its ECJ jurisdictional appeal or in a final decision of the U.S. Fifth Circuit Court of Appeals, the company will divest GRAIL.