Technology

Illumina Board of Directors approves spin-off of GRAIL; declares spin-off dividend of GRAIL shares

Published

2 years ago

June 3, 2024

“When-issued” trading expected to begin on or about June 12, 2024Record date for distribution of GRAIL shares will be June 13, 2024Distribution date for GRAIL shares anticipated to be June 24, 2024

SAN DIEGO, June 3, 2024 /PRNewswire/ — Illumina, Inc. (NASDAQ: ILMN) today announced that its Board of Directors has approved the spin-off of GRAIL. GRAIL is anticipated to spin off from Illumina on June 24, 2024, and has applied to list on Nasdaq as “GRAL.”

“Today’s announcement marks a milestone for Illumina and signals an important step forward for the company, since the divestiture of GRAIL is one of our 2024 priorities,” said Jacob Thaysen, CEO of Illumina. “As we prepare to lead the next era of genomics innovation, we believe GRAIL will play an important role in advancing the industry and improving human health. We will maintain a minority share of 14.5% in GRAIL and remain excited about GRAIL’s breakthroughs in the fight against cancer. We also look forward to exploring opportunities where we can support GRAIL’s work with industry-leading technologies and solutions.”

Stock Distribution

Illumina 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 held at the close of business on June 13, 2024, the record date for the distribution. The distribution is expected to occur at 12:01 a.m. ET on June 24, 2024, subject to customary conditions such as the effectiveness of the registration statement.

Illumina’s Board of Directors has declared a pro rata dividend of 85.5% of the outstanding common stock of GRAIL to Illumina’s shareholders, and Illumina will retain 14.5% of the outstanding shares of GRAIL common stock.

Fractional shares of GRAIL common stock will not be distributed to Illumina shareholders. Instead, the fractional shares of GRAIL common stock will be aggregated and sold in the open market, with the net proceeds distributed pro rata in cash payments to Illumina shareholders who would otherwise receive a fractional share of GRAIL common stock.

No action or payment is required by Illumina shareholders to receive shares of GRAIL common stock or cash in lieu of fractional shares. An Information Statement containing details regarding the distribution of the shares of GRAIL common stock, GRAIL’s business and management following the spin-off, and other information regarding the spin-off will be made available to Illumina shareholders prior to the distribution date.

For U.S. federal income tax purposes, Illumina’s U.S. shareholders (other than those subject to special rules) generally should not recognize gain or loss as a result of the distribution of GRAIL shares, except with respect to cash received in lieu of fractional shares. Illumina shareholders are urged to consult with their tax advisors with respect to the U.S. federal, state, and local or foreign tax consequences, as applicable, of the spin-off.

Trading Details

Beginning on or about June 12, 2024, and continuing until, but not including, the distribution date, it is expected that GRAIL common stock will trade on a “when-issued” basis on Nasdaq under the ticker symbol “GRAL WI.” On Friday, June 21, 2024, when-issued trading of GRAIL common stock will end and on Tuesday, June 25, 2024, GRAIL common stock will begin trading “regular way” on Nasdaq under the ticker symbol “GRAL.” Illumina will continue to trade on Nasdaq under the ticker symbol “ILMN.”

Also beginning on or about June 12, 2024, and continuing until, but not including, the distribution date, it is expected that there will be two markets in Illumina common stock. Illumina shares that trade in the “regular way” market under the symbol “ILMN” will trade with an entitlement to shares of GRAIL common stock to be distributed pursuant to the distribution. Illumina shares that trade in the “ex-distribution” market under the symbol “ILMN WI” will trade without an entitlement to shares of GRAIL common stock.

Illumina shareholders who sell their shares in the “regular way” market before the distribution date, will also be selling their entitlement to receive GRAIL common shares in the distribution. Investors are encouraged to consult with their financial advisors regarding the specific implications of buying or selling Illumina common stock on or before the distribution date.

For more information about the distribution, please contact the distribution agent, Computershare Trust Company, N.A., at 150 Royall Street, Canton, MA 02021 or at the telephone number 877-373-6374.

Use of forward-looking statements

Some of the statements in this press release, particularly those relating to the ability to successfully complete the spin-off on a tax-free basis, within the expected time frame or at all, are forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Actual results could differ materially from expectations expressed or implied in the forward-looking statements if one or more of the underlying assumptions or expectations prove to be inaccurate or are unrealized. Important factors that could cause actual results to differ materially from such expectations are and will be detailed in (i) with respect to Illumina, Illumina’s most recent Annual Report on Form 10-K and subsequent Quarterly Report on Form 10-Q, including in each case under the heading Risk Factors, and in Illumina’s other filings with the U.S. Securities and Exchange Commission (the “SEC”) and (ii) with respect to GRAIL, GRAIL’s registration statement on Form 10 filed with the SEC on May 6, 2024 (as amended and further supplemented). These forward-looking statements are based on management’s current expectations and are subject to certain risks, uncertainty, and changes in circumstances including, without limitation, whether the spin-off will be consummated on the expected terms, or at all. Neither Illumina nor GRAIL undertake responsibility for updating these statements, and these statements speak only as of the date of this press release.

About Illumina

Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit www.illumina.com and connect with us on X (Twitter), Facebook, LinkedIn, Instagram, TikTok, and YouTube.

About GRAIL

GRAIL is a healthcare company whose mission is to detect cancer early, when it can be cured. GRAIL is focused on alleviating the global burden of cancer by using the power of next-generation sequencing, population-scale clinical studies, and state-of-the-art machine learning, software, and automation to detect and identify multiple deadly cancer types in earlier stages. GRAIL’s targeted methylation-based platform can support the continuum of care for screening and precision oncology, including multi-cancer early detection in symptomatic patients, risk stratification, minimal residual disease detection, biomarker subtyping, treatment and recurrence monitoring. GRAIL is headquartered in Menlo Park, CA with locations in Washington, D.C., North Carolina, and the United Kingdom. GRAIL, LLC, is a subsidiary of Illumina, Inc. (NASDAQ: ILMN) currently held separate from Illumina, Inc. under the terms of the Interim Measures Order of the European Commission. For more information, visit grail.com.

Illumina investors:
Salli Schwartz
858-291-6421
IR@illumina.com

Illumina media:
Bonny Fowler
740-641-5579
PR@illumina.com

GRAIL investors:
Alex Dobbin
IR@grail.com

GRAIL media:
Trish Rowland
Kristen Davis
PR@grail.com

View original content:https://www.prnewswire.com/news-releases/illumina-board-of-directors-approves-spin-off-of-grail-declares-spin-off-dividend-of-grail-shares-302162479.html

SOURCE Illumina, Inc.

Technology

Infineon wins patent infringement case against Innoscience

Published

26 minutes ago

June 18, 2026

MUNICH, June 18, 2026 /PRNewswire/ — The District Court Munich, Germany (Landgericht München I) today ruled in favor of Infineon Technologies in two further of the patent infringement cases – specifically one based on a patent one based on a utility model – concerning gallium nitride (GaN) technology between Infineon and Innoscience.

The cases concern the unauthorized use of GaN technologies patented by Infineon by the Chinese company Innoscience. With today’s rulings, the court prohibits Innoscience from manufacturing, selling, and marketing additional patent-infringing products in Germany. Furthermore, the court has ordered Innoscience to pay damages to Infineon.

This marks Innoscience’s third and fourth legal defeat in a series of court cases, each of which found that Innoscience’s products infringe Infineon’s patents. Courts and authorities in both Germany and the United States have repeatedly concluded that Innoscience’s products infringe Infineon’s intellectual property rights. Prior rulings include the decision against Innoscience from August 1, 2025, in an initial German proceeding. Furthermore, on May 7, the Full Commission of the U.S. International Trade Commission (ITC) found that Innoscience had infringed an Infineon patent in the field of gallium nitride (GaN) technology. Additional proceedings regarding the infringement of other Infineon patents are pending in the U.S. and Germany.

GaN plays a pivotal role in enabling high-performance and energy-efficient power systems in a broad range of applications, including renewable energy systems, data centers, industrial automation, and electric vehicles (EVs).

“Today’s ruling demonstrates the value of our GaN portfolio and underscores our commitment to vigorously defending our intellectual property and promoting fair competition,” said Johannes Schoiswohl, Senior Vice President and Head of Infineon’s GaN Systems Business Line.

Infineon continuously strengthens its position as a leading integrated device manufacturer (IDM) in the GaN market with the industry’s broadest IP portfolio, comprising approximately 450 GaN patent families. The company remains dedicated to fostering innovation and advancing semiconductor technology to address the world’s most pressing challenges, from decarbonization to digital transformation.

About Infineon
Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The Company had around 57,000 employees worldwide (end of September 2025) and generated revenue of about €14.7 billion in the 2025 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).

Further information is available at www.infineon.com
This press release is available online at www.infineon.com/press
Follow us: Facebook – LinkedIn

Contact:
Andre Tauber,
andre .tauber@infineon.com,
Tel. +49 89 343 6705

View original content:https://www.prnewswire.co.uk/news-releases/infineon-wins-patent-infringement-case-against-innoscience-302804725.html

Technology

The Inner Circle acknowledges Alan R. Mann as a Pinnacle Professional Member Inner Circle of Excellence

Published

26 minutes ago

June 18, 2026

MOORESVILLE, N.C., June 18, 2026 /PRNewswire/ — Prominently featured in The Inner Circle, Alan R. Mann is recognized as a Pinnacle Professional Member Inner Circle of Excellence for his contributions to Data Analytics and Decision Support.

Alan R. Mann has built a distinguished career in data analytics defined by precision, innovation, and a steadfast commitment to data integrity. With 36 years of experience spanning government, private sector, and health care environments, he is widely respected for transforming complex data into actionable insight that supports informed decision making and improved outcomes.

Since 2023, Mr. Mann has served as a data analyst and senior decision support analyst at Highmark Health, where he manages reporting package responsibilities for the Encompass team. In this role, he develops advanced programming that enables sales teams to deliver data driven client presentations, compare client profiles across multiple health care benefit metrics, and measure outcomes for up to nine chronic conditions.

Mr. Mann’s responsibilities also include evaluating additional coverage measurements and product performance metrics, conducting data discovery to integrate internal database sources, and reducing manual transcription through streamlined data workflows. He finalizes data integration efforts that improve reporting efficiency and supports enhancements to pharmacy focused reporting products, ensuring accuracy and consistency across all deliverables.

A critical component of his work involves designing comprehensive test plans to validate the accuracy and reliability of program outputs. When discrepancies or uncertainties arise, Mr. Mann rigorously retests and validates results, reinforcing his commitment to quality, precision, and trustworthy analytics. His expertise across government, health care, data science, and business analytics continues to add measurable value to the organizations he supports.

Mr. Mann earned a Bachelor of Arts degree from the University of Delaware and a Master of Science degree from Capella University. He further expanded his technical skill set through certification in artificial intelligence from the Texas McCombs School of Business. His professional affiliations include SAS, SASUG, Scouting America, and AEPhi, reflecting both his technical engagement and community involvement.

Outside of his professional work, Mr. Mann enjoys traveling, collecting model and toy trains, and playing guitar. He credits much of his success to the guidance of his mentor, Barry Morstan, and expresses deep gratitude to his wife, Louis, and his parents, Gilbert and Muriel, for their continued love and support.

Looking ahead, Mr. Mann plans to continue contributing to his organization while gradually preparing for the next phase of his professional journey, confident in the lasting impact of his work in data analytics and decision support.

Contact: Katherine Green, 516-825-5634, editorialteam@continentalwhoswho.com

View original content:https://www.prnewswire.com/news-releases/the-inner-circle-acknowledges-alan-r-mann-as-a-pinnacle-professional-member-inner-circle-of-excellence-302804593.html

SOURCE The Inner Circle

Technology

Aquarius.io Launches Press AI & PR Spotlight: Your New AI Team

Published

26 minutes ago

June 18, 2026

They Call it “The Unfair Advantage”.

LOS ANGELES, Jun 18, 2026 /PRNewswire/ —

Talent is not enough without a team.

Most people do not lose because they lack talent. They lose because they do not have a team behind them. Aquarius is out to change that. Two new tools, Press AI and PR Spotlight, put a full news team and a full marketing department in one person’s hands. It is the kind of firepower everyone needs go scale. See it all at Aquarius.io.

Press AI: a full news team for one person

Press AI is a full news team for one person. Give it a story and it researches live sources, checks the facts, turns your interviews into clean, quotable transcripts, and hands back a finished piece with sources attached, ready to file. It does the work of an entire team, so one reporter can chase more leads, break more stories, and beat every deadline.

“Talent is everywhere. The team behind it is not,” said Chaela Harrell, a co-founder of Aquarius. “Aquarius gives one person the power of a whole company. We are your unfair advantage.”

PR Spotlight: your own marketing department

PR Spotlight is a full marketing department in a single tool. Answer a few questions and it researches your brand, then builds investor grade pitch decks and complete media kits, designs your logo, and even handles your contracts, letting you upload, send, sign, and receive them through DocuSign. Together, Press AI and PR Spotlight do the work of an entire team, putting serious media and marketing power in anyone’s hands. Press AI and PR Spotlight are available now at Aquarius.io. Take a look, test it and see what the hype is about.

The rest of the Aquarius family

Press AI and PR Spotlight join a whole family of Aquarius tools: Muse Lab for image and video, Chronicles for cinematic storytelling, Viral AI for social content, and Aria, a voice driven executive assistant. The platform is self serve, so you only pay for what you make. Every tool is built on one idea: give one person the team they never had. That is your unfair advantage.

Press AI and PR Spotlight are the next step in what Aquarius set out to do: put professional grade tools in the hands of the people who were never handed a team.

View original content to download multimedia:https://www.prnewswire.com/news-releases/aquariusio-launches-press-ai–pr-spotlight-your-new-ai-team-302804726.html

SOURCE Aquarius.io