XOMA Announces Offering of Series A Cumulative Perpetual Preferred Stock

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. 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.
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