Business
XOMA Announces Closing of Rights Offering
Raises $22 million from existing stockholders EMERYVILLE, Calif., Dec. 20, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (Nasdaq: XOMA) (“XOMA” or the “Company”)
About this update from Xoma Royalty Corporation
[{"type":"text","content":"Raises $22 million from existing stockholders\nEMERYVILLE, Calif., Dec. 20, 2019 (GLOBE NEWSWIRE) -- XOMA Corporation (Nasdaq: XOMA) (“XOMA” or the “Company”) today announced the closing of its previously announced rights offering (the “Rights Offering”). At the closing, XOMA sold and issued an aggregate of 626,805 shares of its common stock (the “Common Stock”) pursuant to the exercise of subscriptions in the Rights Offering from its existing stockholders. In addition, BVF Partners L.P., a stockholder of the Company, purchased an additional 373,195 shares of Common Stock pursuant to the exercise of its oversubscription rights. Combined, the Company sold and issued an aggregate of 1,000,000 shares of Common Stock for aggregate gross proceeds of $22 million.\n The Rights Offering was made pursuant to the Company’s effective shelf registration statement on file with the Securities and Exchange Commission (the “SEC”) and a prospectus supplement and accompanying prospectus filed with the SEC on December 2, 2019. About XOMA Corporation XOMA has built a significant portfolio of products that are licensed to and being developed by other biotech and pharmaceutical companies. The Company’s portfolio of partner-funded programs spans multiple stages of the drug development process and across various therapeutic areas. Many of these licenses are the result of XOMA’s pioneering efforts in the discovery and development of antibody therapeutics. The Company’s royalty-aggregator business model includes acquiring additional milestone and royalty rights associated with drug development programs with third-party funding. For more information, visit www.xoma.com. Safe Harbor Statement This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results or strategies and are generally preceded by words such as “anticipates,” “expect,” “may,” “plan” or “will”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to diff...