XOMA (XOMA) Prices 1.4M Shares at $25

XOMA Corporation (Nasdaq: XOMA) announced the pricing of its underwritten registered public offering of 1,400,000 depositary shares at an initial public offering price of $25.00 per depositary share, raising gross proceeds of $35.0 million before deducting underwriting discounts and other estimated offering expenses. Each depositary share represents a 1/1000th fractional interest in a share of the Company’s 8.375% Series B Cumulative Perpetual Preferred Stock. Dividends on the Series B Preferred Stock underlying the depositary shares will be paid when declared by the Board at a fixed rate of 8.375% with liquidation preference equivalent to $25.00 per depositary share.

In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 200,000 depositary shares. The offering is expected to close on or about April 9, 2021, subject to customary closing conditions.

The Company’s depositary shares are expected to begin trading on NASDAQ under the symbol “XOMAO” within 30 business days of the closing date of this offering, if approved.

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.

B. Riley Securities, Inc., National Securities Corporation, Ladenburg Thalmann & Co. Inc., and William Blair & Company are acting as joint book-runners for this offering. Aegis Capital Corp., Boenning & Scattergood, Inc., Incapital LLC, and Northland Capital Markets are acting as co-managers.

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