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XOMA Corp | 8.625% Series A Cumulative Perpetual Preferred Stock (XOMAP)
Prospectus excerpt: We are offering for sale 880,000 shares of our 8.625% Series A Cumulative Perpetual Preferred Stock, par value $0.05 per share (the “Series A Preferred Stock”). The liquidation preference of each share of Series A Preferred Stock is $25.00. We will pay cumulative distributions on the Series A Preferred Stock, from, and including, the date of original issuance, in the amount of $2.15625 per share each year, which is equivalent to 8.625% of the $25.00 liquidation preference per share. Dividends on the Series A Preferred Stock will be payable quarterly in arrears, on or about the 15th day of January, April, July and October of each year (or, if not on a business day, on the next succeeding business day). The first dividend on the Series A Preferred Stock sold in this offering will be paid on or about April 15, 2021. We will establish a segregated account that will be funded at closing with proceeds sufficient to pre-fund with four (4) quarterly dividend payments. The segregated account may only be used to pay dividends on the Series A Preferred Stock, when legally permitted, and may not be used for other corporate purposes. Full Prospectus PDF », Secondary Prospectus PDF », XOMA Page »
Series: | A | Redeemable?: | Yes | Call Date: | 12/15/2022 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 880,000 | Overallotment: | 104,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $24.98 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-0.02 (-0.08%) | Annualized Dividend: | 2.15624 | Recent Ex-Date: | 4/2/2024 | Current Yield: | 8.63% | Original Coupon: | 8.625% | Pay Period: | Quarterly | Pay Dates: | 15-Jan, 15-Apr, 15-Jul, 15-Oct | CDx3 Compliance Rating: |
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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 Open the XOMA Information Page »
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