XOMA Royalty Sets July 14 Target for Ligand Acquisition Close, Redeems All Preferred Stock
XOMA sits 87% above its 52-week low of $22.29.
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.