---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-038129"
form_type: "8-K"
ticker: "XOMA"
cik: "0000791908"
company_name: "XOMA Royalty Corp"
filed_at: "2024-02-16T23:59:59+00:00"
generated_at: "2026-06-06T00:32:00.725742+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-24-038129
- form_type: 8-K
- ticker: XOMA
- cik: 0000791908
- company_name: XOMA Royalty Corp
- filed_at: 2024-02-16T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/791908/000119312524038129/0001193125-24-038129-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/791908/000119312524038129/d793007d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-038129
- JSON: https://secwatch.observer/filing/0001193125-24-038129.json
- Plain text: https://secwatch.observer/filing/0001193125-24-038129.txt

## Key facts
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/791908/000119312524038129/0001193125-24-038129-index.htm

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