XOMA Announces Exercise of Green Shoe Option and Closes Preferred Stock Offering

EMERYVILLE, Calif., Dec. 21, 2020 (GLOBE NEWSWIRE) -- XOMA Corporation (Nasdaq: XOMA) (“XOMA” or the “Company”) today announced the closing of its previously announced underwritten registered public offering of 984,000 shares, which includes the underwriters option to purchase additional 104,000 shares of its 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. The offering resulted in net proceeds of approximately $23.4 million after deducting underwriting discounts and commissions, but before deducting expenses and the structuring fee. 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.   Shares of the Preferred Stock are trading on Nasdaq under the symbol “XOMAP”.

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