XOMA Royalty and LAVA Therapeutics Announce Amendment to Purchase Agreement

About this update from Xoma Royalty Corporation

[{"type":"image","alt":"XOMA Royalty Corporation; LAVA Therapeutics N.V.","displaySize":"","headline":null,"caption":"XOMA Royalty Corporation; LAVA Therapeutics N.V.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":143,"url":"https://media.zenfs.com/en/globenewswire.com/19abcc56f18b6f846d93450ed04d16d8"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/9T1bwIBIjaqPMJV2m8ecng--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIwMDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/19abcc56f18b6f846d93450ed04d16d8","width":300,"height":143}},"lazy":false},{"type":"text","content":"- Amendment includes finalized cash amount and updated CVR terms for tender offer","length":81,"tagName":"p"},{"type":"text","content":"- LAVA announces new date for extraordinary general meeting of shareholders ","length":75,"tagName":"p"},{"type":"text","content":"EMERYVILLE, Calif. and UTRECHT, The Netherlands and PHILADELPHIA, Penn., Oct. 17, 2025 (GLOBE NEWSWIRE) -- XOMA Royalty Corporation (“XOMA Royalty”) (Nasdaq: XOMA) and LAVA Therapeutics N.V. (“LAVA”) (Nasdaq: LVTX) today announced that they have reached an agreement to amend their previously announced definitive share purchase agreement (the “Purchase Agreement,” and such amendment, the “Amendment”).","length":403,"tagName":"p"},{"type":"text","content":"Under the Amendment, LAVA shareholders who tender their shares will now receive (i) an initial cash amount per share of $1.04 (the “Cash Amount,” as compared to the range between $1.16 and $1.24 that was originally agreed), plus (ii) a non-transferable contingent value right (“CVR”) per share representing the right to receive certain cash payments, including (A) the previously announced rights to receive, among other things, 75% of the net proceeds related to LAVA’s two partnered assets plus 75% of any net proceeds from any out license or sale of LAVA’s unpartnered programs, plus (B) a new right to receive up to approximately $0.23 per CVR depending on the final determination after closing of certain potential liabilities (the “Offer”).  In addition, LAVA and XOMA Royalty have agreed to amend LAVA’s minimum net-cash closing condition to be $24.5 million, compared to the previous minimum net-cash closing condition of $31.5 million. LAVA and XOMA Royalty are entering into the Amendment in light of their current understanding of potential...

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