---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-298155"
form_type: "8-K"
ticker: "XOMA"
cik: "0000791908"
company_name: "XOMA Royalty Corp"
filed_at: "2023-12-19T23:59:59+00:00"
generated_at: "2026-06-07T10:57:02.889128+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# XOMA secures up to $140M non-dilutive royalty-backed loan from Blue Owl at 9.875%

## Summary
- XOMA draws $130M initial term loan; can draw additional $10M if VABYSMO royalties exceed threshold by March 2026.
- Semi-annual interest at 9.875% fixed; 15-year maturity with optional prepayment; loan is non-recourse to XOMA assets.
- Issued Blue Owl warrants for 120,000 shares in three tranches at $35, $42.50, and $50 per share (122%-217% premium).
- Proceeds to fund stock repurchases and additional royalty/milestone acquisitions, per CIO Brad Sitko.
- Loan backed by VABYSMO (faricimab) royalties; XOMA acquired these royalties for $14M in 2021.

## SEC filing metadata
- accession: 0001193125-23-298155
- form_type: 8-K
- ticker: XOMA
- cik: 0000791908
- company_name: XOMA Royalty Corp
- filed_at: 2023-12-19T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/791908/000119312523298155/0001193125-23-298155-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/791908/000119312523298155/d669381d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-298155
- JSON: https://secwatch.observer/filing/0001193125-23-298155.json
- Plain text: https://secwatch.observer/filing/0001193125-23-298155.txt

## Key facts
- Debt Financings
  XOMA Royalty Corp incurred credit facility of up to $140 million with Blue Owl Capital Inc. at 9.875% per annum maturing December 15, 2038.
  - Instrument: credit facility
  - Principal: up to $140 million
  - Counterparty: Blue Owl Capital Inc.
  - Rate: 9.875% per annum
  - Maturity: December 15, 2038
  - Event: incurrence
  source text: dated December 15, 2023, with the lenders from time to time party thereto (the “ Lenders ”) and Blue Owl Capital Corporation, as administrative agent (the “ Administrative Agent ”), pursuant to which the lenders extended certain senior secured credit facilities to the Subsidiary (the “ Loan ”) in an aggregate principal amount of up to $140 million (the “ Loan Amount ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/791908/000119312523298155/0001193125-23-298155-index.htm
- Material Agreements
  XOMA Royalty Corp entered into Warrants with Blue Owl Capital Inc. valued at warrants to purchase up to 120,000 shares of common stock at exercise prices of $35.00, $42.50, and (effective 2023-12-15).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Blue Owl Capital Inc.
  - Value: warrants to purchase up to 120,000 shares of common stock at exercise prices of $35.00, $42.50, and
  - Effective: 2023-12-15
  source text: XOMA also issued to Blue Owl warrants (the “ Warrants ”), to purchase (i) up to 40,000 shares of XOMA’s common stock, par value $0.0075 (“ Common Stock ”) at an exercise price of $35.00 per share, the form of which is attached to this Current Report on Form 8-K as Exhibit 4.1; (ii) up to 40,000 shares of Common Stock at an exercise price of $42.50 per share, the form of which is attached to this Current Report on Form 8-K as Exhibit 4.2; and (iii) up to 40,000 shares of Common Stock at an exercise price of $50.00 per share, the form of which is attached to this Current Report on Form 8-K as Exhibit 4.3.
  evidence_url: https://www.sec.gov/Archives/edgar/data/791908/000119312523298155/0001193125-23-298155-index.htm
- Material Agreements
  XOMA Royalty Corp entered into Loan Agreement with Blue Owl Capital Corporation valued at up to $140 million principal amount; interest rate 9.875% per annum; maturity December 15, 2038 (effective 2023-12-15).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Blue Owl Capital Corporation
  - Value: up to $140 million principal amount; interest rate 9.875% per annum; maturity December 15, 2038
  - Effective: 2023-12-15
  source text: On December 15, 2023, XOMA Corporation (“ XOMA ”), through XRL 1 LLC, a newly formed, wholly-owned subsidiary (the “ Subsidiary ”), entered into a non-dilutive, non-recourse, royalty-backed loan for up to $140 million of capital (the “ Royalty Financing ”) with certain funds managed by the credit platform of Blue Owl Capital Inc. (collectively, “ Blue Owl ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/791908/000119312523298155/0001193125-23-298155-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.