XOMA Royalty Declares Dividends, Redeems Preferred Stock
Analysis based on 7 articles · First reported Jun 12, 2026 · Last updated Jun 12, 2026
The market impact is generally positive for shareholders of XOMA Corporation as they will receive dividends and a redemption price for their preferred stock, along with contingent value rights for common stock holders. This event is a step towards the completion of the acquisition by Ligand Pharmaceuticals Incorporated, which could lead to increased stability and potential synergies for both companies.
XOMA Corporation announced cash dividends for its 8.625% Series A Cumulative Perpetual Preferred Stock and 8.375% Series B Cumulative Perpetual Preferred Stock. The company will redeem all outstanding shares of both Series A and Series B Preferred Stock on July 14, 2026, at a price of $25.00 per share. This redemption is in connection with the pending merger of Auddia Merger Sub, Inc. (a subsidiary of Ligand Pharmaceuticals Incorporated) with and into XOMA Corporation. Additionally, XOMA Corporation set July 13, 2026, as the record date for the distribution of contingent value rights (CVRs) to its common stock holders, representing rights to contingent payments derived from the XOMA CVR Trust's interest in XOMA Corporation.
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