XOMA Prices 9.50 Mln Shares At $5.25/shr - Quick Facts

(RTTNews) - XOMA Corp. (XOMA) announced that it has priced 9.50 million shares of its common stock at $5.25 per share. In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 1.425 million shares of common stock on the same terms and conditions.

The firm anticipates its aggregate net proceeds from the offering will be about $46.5 million after deducting the underwriting discount and estimated offering expenses payable by XOMA.

The company noted that it plans 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.