Xoma Royalty said it will pay quarterly cash dividends on its two series of perpetual preferred stock and then redeem all outstanding preferred shares on July 14, 2026.
Holders of the 8.625% Series A preferred stock will receive $0.53906 per share, while holders of the 8.375% Series B preferred stock will receive $0.52344 per depositary share. The dividends are scheduled to be paid on or about July 15, 2026, to shareholders of record at the close of business on July 2, 2026.
The company said it will redeem the Series A preferred shares at $25.00 per share and the Series B depositary shares at $25.00 per share. Xoma said it had 984,000 Series A preferred shares outstanding and 1,760,500 Series B depositary shares outstanding.
The redemption is tied to Xoma’s pending merger with Flex Merger Sub, which is part of the agreement involving Xoma, Ligand Pharmaceuticals and Flex Merger Sub dated April 27, 2026.
Xoma also set July 13, 2026 at 5:00 p.m. Eastern time as the record date for contingent value rights to be distributed to common shareholders under the merger agreement. Each holder of record of Xoma common stock as of that date will receive one CVR per share as additional merger consideration at the effective time of the merger. Today the company's shares have moved 0.46% to a price of $41.98. If you want to know more, read the company's complete 8-K report here.
