XOMA Royalty Sets July 14 Target for Ligand Acquisition Close, Redeems All Preferred Stock
Summary
XOMA Royalty expects its acquisition by Ligand Pharmaceuticals to close around July 14, 2026. The company also announced the full redemption of all Series A and Series B preferred stock on the same date at $25.00 per share, along with final dividends. This follows the definitive merger agreement with Ligand Pharmaceuticals announced on April 27, where XOMA is being acquired for $39.00 per share. This news provides a firm timeline for the completion of the acquisition, offering clarity to common shareholders and a definitive exit for preferred shareholders. The record date for the CVR distribution is set for July 13, 2026.
At the time of this announcement, XOMA was trading at $41.79 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $738.8M. The 52-week trading range was $22.29 to $42.81. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.