Business
XOMA Prices $22 Million Offering of Series A Cumulative Perpetual Preferred Stock
EMERYVILLE, Calif., Dec. 10, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (Nasdaq: XOMA) (“XOMA” or the “Company”) today announced the pricing of its
About this update from Xoma Royalty Corporation
[{"type":"text","content":"EMERYVILLE, Calif., Dec. 10, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (Nasdaq: XOMA) (“XOMA” or the “Company”) today announced the pricing of its underwritten registered public offering of 880,000 shares of 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, raising gross proceeds of $22.0 million before deducting underwriting discounts, the structuring fee and other estimated offering expenses.\n In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 104,000 shares of Preferred Stock. The offering is expected to close on or about December 15, 2020, subject to customary closing conditions. The Company’s shares of Preferred Stock are expected to begin trading on NASDAQ under the symbol “XOMAP” within 30 business days of the closing date of this offering, if approved. Net proceeds of this offering will be used 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. B. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc., National Securities Corporation, and William Blair & Company are acting as joint book-runners for this offering. Aegis Capital Corp., Boenning & Scattergood, Inc., and Northland Capital Markets are acting as co-managers. The offering of these securities is being 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 will be made only by means of a prospectus and prospectus supplement. A copy of the prospectus and prospectus supplement relating to these securities may be obtained, when available, 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 ...