XOMA Announces Pricing of Approximately $50.0 Million Offering of Common Stock
December 13 2013 - 9:13AM
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.
Credit Suisse Securities (USA) LLC and Jefferies LLC are acting
as joint book running managers. Cowen and Company, LLC, Piper
Jaffray & Co. and RBC Capital Markets, LLC are acting as
co-managers. Piper Jaffray & Co. is acting as a financial
advisor to XOMA in connection with the offering.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. This press release is being issued pursuant to and in
accordance with Rule 134 under the Securities Act of 1933, as
amended. Any offer, if at all, will be made only by means of a
prospectus supplement and accompanying prospectus forming a part of
the effective registration statement. Copies of the prospectus
supplement and accompanying prospectus relating to the offering may
be obtained from Credit Suisse Securities (USA) LLC, Attention:
Prospectus Department, One Madison Avenue, New York, NY 10010, by
telephone at 800-221-1037, or by email at
newyork.prospectus@credit-suisse.com, or from Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 12th Floor, New York, NY 10022, by telephone at
877-547-6340, or by email at prospectus_department@jefferies.com.
XOMA intends to file a final prospectus supplement relating to the
offering with the SEC, which will be available along with the
accompanying prospectus filed with the SEC in connection with the
shelf registration, on the SEC's website at www.sec.gov.
About XOMA
XOMA discovers and develops innovative antibody
therapeutics.
Forward-Looking Statements
The statements contained herein concerning XOMA's expectations
regarding the completion, size and terms of the proposed offering
and the anticipated net proceeds from the offering are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. These statements are based on assumptions that may not
prove accurate. Actual results could differ materially from those
anticipated due to certain risks, including the proposed offering
is subject to the satisfaction of customary closing conditions.
There can be no assurance that XOMA will be able to complete the
offering on the anticipated terms, or at all. Risks and
uncertainties relating to XOMA and its business can be found in the
"Risk Factors" section of XOMA's Quarterly Report on Form 10-Q for
the quarter ended September 30, 2013, and in the preliminary
prospectus supplement related to the proposed offering filed with
the SEC on or about the date hereof. Consider such risks carefully
when considering XOMA's prospects. Any forward-looking statement in
this press release represents XOMA's views only as of the date of
this press release and should not be relied upon as representing
its views as of any subsequent date. XOMA disclaims any obligation
to update any forward-looking statement, except as required by
applicable law.
CONTACT: XOMA Corporation
Company and Investor Contact:
Ashleigh Barreto
510-204-7482
barreto@xoma.com
Juliane Snowden
The Oratorium Group, LLC
jsnowden@oratoriumgroup.com
Media Contact:
Canale Communications
Carolyn Hawley
619-849-5375
carolyn@canalecomm.com
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