{"id":472306,"date":"2021-04-06T19:05:03","date_gmt":"2021-04-06T23:05:03","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=472306"},"modified":"2021-04-06T19:05:03","modified_gmt":"2021-04-06T23:05:03","slug":"xoma-prices-35-million-offering-of-depositary-shares","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-prices-35-million-offering-of-depositary-shares\/","title":{"rendered":"XOMA Prices $35 Million Offering of Depositary Shares"},"content":{"rendered":"<h2>\nDepositary shares represent an interest in 8.375% Series B Cumulative Perpetual Preferred Stock<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"left\">EMERYVILLE, Calif., April  06, 2021  (GLOBE NEWSWIRE) &#8212; XOMA Corporation (Nasdaq: XOMA) (\u201cXOMA\u201d or the \u201cCompany\u201d) 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.\u00a0 Each depositary share represents a 1\/1000<sup>th\u00a0<\/sup>fractional interest in a share of the Company\u2019s 8.375% Series B Cumulative Perpetual Preferred Stock.\u00a0 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.<\/p>\n<p>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.\u00a0 The offering is expected to close on or about April 9, 2021, subject to customary closing conditions.<\/p>\n<p>The Company\u2019s depositary shares are expected to begin trading on NASDAQ under the symbol \u201cXOMAO\u201d within 30 business days of the closing date of this offering, if approved.<\/p>\n<p>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.<\/p>\n<p>B. Riley Securities, Inc., National Securities Corporation, Ladenburg Thalmann &amp; Co. Inc., and William Blair &amp; Company are acting as joint book-runners for this offering.\u00a0 Aegis Capital Corp., Boenning &amp; Scattergood, Inc., Incapital LLC, and Northland Capital Markets are acting as co-managers.<\/p>\n<p>The depositary shares will be offered under the Company\u2019s shelf registration statement on Form S-3, which was declared effective by the U.S. Securities and Exchange Commission (\u201cSEC\u201d).\u00a0 The offering of these depositary shares\u00a0will be made only by means of a prospectus and prospectus supplement.\u00a0 A copy of the prospectus and prospectus supplement relating to these securities may be obtained, when available, from the website of the SEC at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=iJNS3Ng9DXbmNKgBLOhl6l24yWQfRABidVxD_jW-wph62zTDPGSXPmP4P_vhZ4oaGD1DK4pgSB4AYwYzr_330w==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">http:\/\/www.sec.gov<\/a>\u00a0or by contacting: B. Riley Securities, Inc., 1300 17th Street North, Suite 1300, Arlington, Virginia 22209, Attn: Prospectus Department, Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=DAK2ys74NzOqxA4r60_SKCFoYbiCs06wkzUzmNcjb4r3P8UF0KcsXJkUylBXv1GYvK7il9TT6wT3uaIc10lomYZjoWyLJI1Ukl6sKZBmMMm9t_3icpt7ffqlgds13yTh\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">prospectuses@brileyfin.com<\/a>, Telephone: (703) 312-9580.<\/p>\n<p>This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the depositary shares in any state or jurisdiction in which such offer, solicitation, or sale would not be permitted.<\/p>\n<p>\n        <strong>About XOMA Corporation<\/strong><br \/>\n        <br \/>XOMA has built a significant portfolio of products that are licensed to and being developed by other biotech and pharmaceutical companies.\u00a0 The Company\u2019s portfolio of partner-funded programs spans multiple stages of the drug development process and across various therapeutic areas.\u00a0 Many of these licenses are the result of XOMA\u2019s pioneering efforts in the discovery and development of antibody therapeutics.\u00a0 The Company\u2019s royalty-aggregator business model includes acquiring additional milestone and royalty rights associated with drug development programs with third-party funding.<\/p>\n<p>\n        <strong>Safe Harbor Statement \/ Explanatory Notes<\/strong><br \/>\n        <br \/>This release contains \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.\u00a0 \u201cForward-looking statements\u201d describe future expectations, plans, results, or strategies and are generally preceded by words such as \u201canticipates,\u201d \u201cexpect,\u201d \u201cmay,\u201d \u201cplan\u201d or \u201cwill\u201d.\u00a0 Forward-looking statements include, without limitation, projections, predictions, expectations, or beliefs about future events or results and are not statements of historical fact, including statements regarding the terms and conditions and timing of the offering and the intended use of proceeds.\u00a0 You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the availability of, and participation in, financing opportunities.\u00a0 These and other risks are identified in our filings with the Commission, including without limitation our Annual Report on Form 10-K for the year ended December 31, 2020, and in other filings subsequently made by the Company with the Commission.\u00a0 All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management\u2019s assumptions and estimates as of such date.\u00a0 We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.<\/p>\n<p>EXPLANATORY NOTE: Any references to \u201cportfolio\u201d in this press release refer strictly to milestone and\/or royalty rights associated with a basket of drug products in development.\u00a0 Any references to \u201cassets\u201d in this press release refer strictly to milestone and\/or royalty rights associated with individual drug products in development.\u00a0 References to royalties or royalty rates strictly refer to future potential payment streams regardless of whether or not they are technically defined as royalties in the underlying contractual agreement; further, any rates referenced herein are subject to potential future contractual adjustments.<\/p>\n<p>As of the date of this press release, all assets in XOMA\u2019s milestone and royalty portfolio are investigational compounds.\u00a0 Efficacy and safety have not been established.\u00a0 There is no guarantee that any of these assets will become commercially available.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td>\n            <strong>XOMA Investor Contacts:<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Gitanjali Jain<\/td>\n<td>Juliane Snowden<\/td>\n<\/tr>\n<tr>\n<td>Solebury Trout<\/td>\n<td>XOMA<\/td>\n<\/tr>\n<tr>\n<td>+1-646-378-2949<\/td>\n<td>+1 646-438-9754<\/td>\n<\/tr>\n<tr>\n<td>\n            <a href=\"mailto:jojawa@soleburytrout.com\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">jojawa@soleburytrout.com<\/a>\n          <\/td>\n<td>\n            <a href=\"mailto:juliane.snowden@xoma.com\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">juliane.snowden@xoma.com<\/a>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Media Contact:<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Kathy Vincent<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>KV Consulting &amp; Management<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>+1 310-403-8951<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <a href=\"mailto:kathy@kathyvincent.com\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">kathy@kathyvincent.com<\/a>\n          <\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMjU3MCM0MTA4ODY4IzIwMjcwMTY=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/0f16ed09-25d4-4b23-95e9-8a65ca363dc5\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Depositary shares represent an interest in 8.375% Series B Cumulative Perpetual Preferred Stock EMERYVILLE, Calif., April 06, 2021 (GLOBE NEWSWIRE) &#8212; XOMA Corporation (Nasdaq: XOMA) (\u201cXOMA\u201d or the \u201cCompany\u201d) 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.\u00a0 Each depositary share represents a 1\/1000th\u00a0fractional interest in a share of the Company\u2019s 8.375% Series B Cumulative Perpetual Preferred Stock.\u00a0 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-prices-35-million-offering-of-depositary-shares\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;XOMA Prices $35 Million Offering of Depositary Shares&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-472306","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>XOMA Prices $35 Million Offering of Depositary Shares - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-prices-35-million-offering-of-depositary-shares\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XOMA Prices $35 Million Offering of Depositary Shares - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Depositary shares represent an interest in 8.375% Series B Cumulative Perpetual Preferred Stock EMERYVILLE, Calif., April 06, 2021 (GLOBE NEWSWIRE) &#8212; XOMA Corporation (Nasdaq: XOMA) (\u201cXOMA\u201d or the \u201cCompany\u201d) 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.\u00a0 Each depositary share represents a 1\/1000th\u00a0fractional interest in a share of the Company\u2019s 8.375% Series B Cumulative Perpetual Preferred Stock.\u00a0 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 &hellip; Continue reading &quot;XOMA Prices $35 Million Offering of Depositary Shares&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-prices-35-million-offering-of-depositary-shares\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-06T23:05:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMjU3MCM0MTA4ODY4IzIwMjcwMTY=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta 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before deducting underwriting discounts and other estimated offering expenses.\u00a0 Each depositary share represents a 1\/1000th\u00a0fractional interest in a share of the Company\u2019s 8.375% Series B Cumulative Perpetual Preferred Stock.\u00a0 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 &hellip; Continue reading \"XOMA Prices $35 Million Offering of Depositary Shares\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/xoma-prices-35-million-offering-of-depositary-shares\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-06T23:05:03+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMjU3MCM0MTA4ODY4IzIwMjcwMTY=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 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