MergerJun 12, 2026, 04:06 PM
XOMA to Redeem Preferred Stock, Distribute CVRs Ahead of Ligand Merger
AI Summary
XOMA Royalty Corporation announced the redemption of all outstanding Series A and Series B Preferred Stock on July 14, 2026, at $25.00 per share/depositary share, respectively. This action is in connection with its pending merger with Flex Merger Sub, Inc., a subsidiary of Ligand Pharmaceuticals. The company also declared cash dividends for preferred stockholders and set July 13, 2026, as the record date for the distribution of contingent value rights (CVRs) to common stockholders, entitling them to one CVR per share as additional merger consideration.
Key Highlights
- XOMA to redeem all Series A and Series B Preferred Stock on July 14, 2026.
- Preferred stock redemption price set at $25.00 per share/depositary share.
- Cash dividend of $0.53906 per Series A Preferred share declared.
- Cash dividend of $0.52344 per Series B Preferred depositary share declared.
- Preferred share dividends payable on July 15, 2026, to holders of record on July 2, 2026.
- CVR record date set for July 13, 2026, for common stockholders.
- Common stockholders to receive one CVR per share as additional merger consideration.
- These actions are in connection with the pending merger with Ligand Pharmaceuticals.
Price Impact
More from XOMA