XOMA Royalty said its board authorized quarterly cash dividends on both classes of perpetual preferred stock and set a July 14 redemption date for all outstanding preferred shares.
Holders of the 8.625% Series A preferred stock will receive $0.53906 per share on or about July 15, with a July 2 record date. The company said 984,000 Series A shares are outstanding.
Holders of the 8.375% Series B preferred stock will receive $0.52344 per depositary share on or about July 15, also with a July 2 record date. XOMA said 1,760,500 Series B depositary shares are outstanding.
Both preferred stock classes will be redeemed at $25.00 per share or depositary share on July 14. Based on the stated share counts, the redemption covers $24.6 million of Series A preferred stock and about $44.0 million of Series B depositary shares, for roughly $68.6 million in total.
The company said dividends on the preferred stock will stop accruing on the redemption date and the shares will cease to be outstanding after that date.
XOMA also set a July 13, 2026, record date for contingent value rights tied to its pending merger. Common shareholders of record at 5:00 p.m. Eastern on July 13 will receive one CVR per share. The CVRs are linked to contingent payments from XOMA CVR Trust’s 75% interest in XOMA Royalty LLC and the Janssen litigation. Today the company's shares have moved 0.38% to a price of $41.95. Check out the company's full 8-K submission here.
