Business
XOMA Announces Exercise of Green Shoe Option and Closes Preferred Stock Offering
EMERYVILLE, Calif., Dec. 21, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (Nasdaq: XOMA) (“XOMA” or the “Company”) today announced the closing of its previously
About this update from Xoma Royalty Corporation
[{"type":"text","content":"EMERYVILLE, Calif., Dec. 21, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (Nasdaq: XOMA) (“XOMA” or the “Company”) today announced the closing of its previously announced underwritten registered public offering of 984,000 shares, which includes the underwriters option to purchase additional 104,000 shares of its 8.625% Series A Cumulative Perpetual Preferred Stock, with liquidation preference of $25.00 per share (the “Preferred Stock”), at an initial public offering price of $25.00 per share. The offering resulted in net proceeds of approximately $23.4 million after deducting underwriting discounts and commissions, but before deducting expenses and the structuring fee. The Company expects to use the net proceeds of this offering to fund the segregated dividend account and the remaining net proceeds for general corporate purposes, including funding future acquisitions of milestone and royalty rights associated with drug development programs with third-party funding. Shares of the Preferred Stock are trading on Nasdaq under the symbol “XOMAP”. B. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc., National Securities Corporation, and William Blair & Company acted as joint book-runners for this offering. Aegis Capital Corp., Boenning & Scattergood, Inc., and Northland Capital Markets acted as co-managers. Cooley LLP acted as legal counsel to the Company. Duane Morris LLP acted as legal counsel to the underwriters. The offering of these securities was made pursuant to an effective shelf registration statement on Form S-3, which was initially filed with the Securities and Exchange Commission (the “SEC”) on March 7, 2018, and declared effective by the SEC on April 5, 2018. The offering was made by means of a prospectus and prospectus supplement. A copy of the prospectus and prospectus supplement relating to these securities may be obtained from the website of the SEC at http://www.sec.gov or by contacting: B. Riley Securities, Inc., 1300 17th Street North, Suite 1300, Arlington, Virginia 22209, Attn: Prospectus Department, Email: [email protected], Telephone: (703) 312-9580. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration...