Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sat, December 4, 3:23 AM

Slide #47. XOMA Corporation Preferred Stock Offering

Company: XOMA Corporation (NASDAQ:XOMAO)
Date announced: 4/5/2021
Shares Offered: 1,400,000
Date of Pricing: 4/6/2021
Price Per Share: $25.00
Preferred Stock Offering Details: XOMA Corporation (Nasdaq: XOMA) ("XOMA" or the "Company") today announced it has commenced an underwritten registered public offering of depositary shares, each representing 1/1000th fractional interest in a share of the Company's Series B Cumulative Perpetual Preferred Stock, with liquidation preference of $25.00 per depositary share, subject to market and certain other conditions. The Company expects to grant the underwriters a 30-day option to purchase additional depositary shares in connection with the offering. -updated 4/6- XOMA Corporation (Nasdaq: XOMA) ("XOMA" or the "Company") today 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.

XOMA is a biotech royalty aggregator. Co. has a pipeline of monoclonal antibodies and technologies available to license to pharmaceutical and biotechnology companies, including: PTH1R program, which is an anti-parathyroid receptor pipeline that includes functional antibody antagonists targeting PTH1R, a G-protein-coupled receptor involved in the regulation of calcium metabolism; XMetA, which is an insulin receptor-activating antibody designed to provide long-acting reduction of hyperglycemia in Type 2 diabetic patients, reducing the advancement to a number of insulin injections needed to control their blood glucose levels; and X213, which is an allosteric inhibitor of prolactin action.
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