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Buy (3.00 out of 4)
29th percentile
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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Wednesday, April 24, 4:23 PM
Slide #105. 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. Preferreds: XOMAP, XOMAO
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