Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 3:44 PM
This Slide: #94 of 609 |
Slide #94. XOMA Corporation — Preferred Stock Offering
Company:
XOMA Corporation (NASDAQ:XOMA)
Date announced:
12/10/2020
Shares Offered:
880,000
Date of Pricing:
12/10/2020
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 shares of its Series A Cumulative Perpetual Preferred Stock, with liquidation preference of $25.00 per share (the "Preferred Stock"). The Company expects to grant the underwriters a 30-day option to purchase additional shares of the Preferred Stock in connection with the offering. -updated 12/10- 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. 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.
XOMA is a biotech royalty aggregator. Co. has a portfolio of economic rights to milestone and royalty payments associated with partnered pre-commercial therapeutic candidates. Co.'s portfolio was built through licensing its proprietary products and platforms from its discovery and development business, combined with acquisitions of rights to milestones and royalties.
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