secwatch.observer — SEC 8-K summary
======================================

Issuer:     XOMA Royalty Corp (XOMA)
CIK:        0000791908
Form:       8-K/A
Filed at:   2024-06-13T23:59:59+00:00
Accession:  0001193125-24-160743
Event type: m_and_a
Sentiment:  negative
Materiality: 0.80
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

XOMA closes Kinnate acquisition for $122.7M cash; Q1 2024 pro forma net loss $21.7M
--------------------------------------------------------------------------------

- Cash consideration of $2.5879 per share + one CVR; aggregate cash $122.7M financed from cash on hand.
- Kinnate Q1 2024 net loss $13.1M, cash $151.3M at March 31, 2024.
- Pro forma combined net loss for Q1 2024 $21.7M; for FY 2023 $136.9M.
- Kinnate restructuring costs of $2.3M in Q1 2024; workforce reductions implemented.
- Includes historical audited financials of Kinnate as of Dec 31, 2023 and 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/791908/000119312524160743/0001193125-24-160743-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/791908/000119312524160743/d814270d8ka.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-160743

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer