Market Overview

XOMA Prices 9.5M Share Offering at $5.25/Share

XOMA Corporation (Nasdaq: XOMA) announced today the pricing of 9,500,000 shares of its common stock at a price to the public of $5.25 per share. In addition, XOMA has granted the underwriters a 30-day option to purchase up to an additional 1,425,000 shares of common stock on the same terms and conditions. The shares will be issued pursuant to a prospectus supplement filed as part of a shelf registration statement previously filed with the Securities and Exchange Commission (SEC) on Form S-3. XOMA anticipates its aggregate net proceeds from the offering will be approximately $46.5 million after deducting the underwriting discount and estimated offering expenses payable by XOMA. XOMA intends to use the net proceeds from the offering for continued development, preclinical testing and clinical studies related to gevokizumab and the XMet platform, general research and development, business development and other corporate purposes. The offering is expected to close on or about December 18, 2013, subject to customary closing conditions.
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Posted-In: News Guidance Financing Offerings Management Global

 

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