XOMA Royalty Declares $0.53906 and $0.52344 Dividends, Plans $25 Redemption and CVR Record Date
XOMA•XOMA Royalty authorized a $0.53906 dividend on 984,000 Series A and $0.52344 on 1.76 M Series B preferred shares, payable July 15, and will redeem all shares at $25 July 14. The CVR record date is 5 p.m. ET July 13, granting one contingent value right per common share tied to 75% royalty interest.
1. Dividend Authorization
On June 12, 2026, XOMA Royalty’s board approved a cash dividend of $0.53906 per share on its 984,000 outstanding Series A cumulative perpetual preferred shares and $0.52344 per depositary share on its 1,760,500 Series B cumulative perpetual preferred shares, payable July 15 to holders of record July 2.
2. Preferred Stock Redemption
The company will redeem all outstanding Series A and B preferred shares on July 14, 2026, at a fixed redemption price of $25.00 per share, after which dividends will cease to accrue and the shares will no longer be outstanding.
3. CVR Record Date and Terms
XOMA Royalty set the contingent value right record date for common shareholders at 5:00 p.m. Eastern time on July 13, 2026. Each holder of common stock at that time will receive one CVR per share, entitling them to contingent payments derived from a 75% interest in XOMA Royalty LLC related to the Janssen litigation.
4. Merger with Ligand Pharmaceuticals
The redemption and CVR distribution are being effected in connection with the pending merger of Flex Merger Sub into XOMA pursuant to the April 27, 2026 merger agreement with Ligand Pharmaceuticals. Completion of the transaction remains subject to customary closing conditions including regulatory approvals and shareholder votes.
