XOMA Royalty Corp (XOMA): M&A transaction — XOMA completes acquisition of Kinnate Biopharma for $2.5879 per share plus CVRs

XOMA Royalty Corp

XOMA purchased ~81% of Kinnate shares via tender offer at $2.5879/share plus one CVR per share.
Merger closed under DGCL Section 251(h); remaining shares converted to same consideration.
CVRs entitle holders to potential payments from future disposition of Kinnate's products within one year, up to five years.
Total of 38,258,681 shares tendered; all conditions satisfied for merger.
XOMA expects to realize value from Kinnate's pipeline; CVR agreement filed as exhibit.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

XOMA Royalty Corp completed an acquisition involving Kinnate Biopharma Inc. for $2.5879 in cash per Share plus one non-transferable contractual contingent value right per Share (closed 2024-04-03).

Action: acquisition
Counterparty: Kinnate Biopharma Inc.
Consideration: $2.5879 in cash per Share plus one non-transferable contractual contingent value right per Share
Closing: 2024-04-03

Exact text from the filing

April 3, 2024, XOMA completed a tender offer to purchase all of Kinnate’s outstanding shares of common stock, par value $0.0001 per share (the “ Shares ”), in exchange for (i) $2.5879 in cash per Share (the “ Cash Amount ”), plus (ii) one non-transferable contractual contingent value right per Share (each, a “ CVR ” and each CVR together with the Cash Amount,

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Source: SEC EDGAR

accession 0001193125-24-085545

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This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.