XOMA to acquire Kinnate Biopharma for up to $2.5879 per share plus CVR

XOMA Royalty Corp

Cash consideration of $2.3352 base plus up to $0.2527 additional per share; plus CVR for 85% or 100% of program sale proceeds.
Kinnate must have at least $120M net cash at closing; expected close in April 2024.
XOMA expects to add ~$9.5M cash to balance sheet and acquire early-stage oncology programs.
Support agreements covering ~46% of Kinnate shares signed; Kinnate board unanimously approved.
Tender offer to commence by March 4, 2024; financing condition waived.

item 1.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

XOMA Royalty Corp entered into Merger Agreement with Kinnate Biopharma Inc. (effective 2024-02-16).

Action: entry
Agreement: merger
Counterparty: Kinnate Biopharma Inc.
Effective: 2024-02-16

Exact text from the filing

On February 16, 2024, XOMA Corporation (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Kinnate Biopharma Inc., a Delaware limited liability company (“Kinnate”), and XRA 1 Corp., a Delaware corporation and a wholly-owned subsidiary of the Company (“Merger Sub”).

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XOMA Royalty Corp filing history →

Source: SEC EDGAR

accession 0001193125-24-038129

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