XOMA Corp | 8.375% Depositary Shares Series B Cumulative Perpetual Preferred Stock (XOMAO)
Prospectus excerpt: XOMA Corporation is offering 1,400,000 depositary shares, each representing a 1/1000th fractional interest in a share of 8.375% Series B Cumulative Perpetual Preferred Stock (the “Series B Preferred Stock”), which we refer to in this prospectus as the depositary shares. 1,400 shares of Series B Preferred Stock underlying the depositary shares will be deposited with American Stock Transfer & Trust Company, LLC, as depositary. As a holder of the depositary shares, you will be entitled to all proportional rights, preferences and privileges of the Series B Preferred Stock represented thereby, including dividend, voting, redemption and liquidation rights and preferences. The proportionate liquidation preference of each depositary share is $25.00.
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.