XOMA Royalty Completes $4.2913 Tender Offer for 70% of Generation Bio
XOMA Royalty completed a tender offer acquiring outstanding Generation Bio shares for $4.2913 per share in cash plus one contingent value right. 4,722,533 shares (approximately 70% of the total) were tendered, satisfying all conditions, and Generation Bio became a wholly owned subsidiary set for delisting.
1. Tender Offer Completed for Generation Bio
XOMA Royalty’s tender offer for Generation Bio expired February 6 at 11:59 p.m. ET, yielding 4,722,533 shares validly tendered (approximately 70%). The offer provided $4.2913 cash per share plus one non-tradeable contingent value right and met all minimum and withdrawal conditions.
2. Subsidiary Merger and Delisting
After the offer expired, XOMA Royalty’s subsidiary merged into Generation Bio, converting remaining shares into the same offer price and making Generation Bio a wholly owned subsidiary. Trading ceased on Nasdaq after February 6 close, and the company plans prompt delisting and deregistration under the Exchange Act.
3. Strategic Rationale and Next Steps
The acquisition expands XOMA Royalty’s biotech royalty portfolio, adding Generation Bio’s delivery platform to its assets and potentially enhancing future cash flows. The contingent value right grants additional upside based on dispositions, with monetization and disposition milestones to be pursued during the designated period.