Summary by Moomoo AI
Illumina has successfully priced an underwritten public offering of $500 million aggregate principal amount of 4.650% notes due 2026. The offering was conducted under an effective shelf registration statement previously filed with the SEC.The company plans to use the net proceeds to repay a portion of its $750 million outstanding debt under the 364-day delayed draw credit agreement, which was established in connection with the GRAIL spin-off. The offering is scheduled to close on September 9, 2024, subject to customary closing conditions.
