XOMA Royalty Corporation Declares Quarterly Preferred Stock Dividend and Announces Redemption of Its Perpetual Preferred Stock and CVR Dividend Record Date

EMERYVILLE, Calif., June 12, 2026 (GLOBE NEWSWIRE) -- XOMA Royalty Corporation (Nasdaq: XOMA) (“XOMA” or the “Company”) today announced that its Board of Directors has authorized the following cash dividends to holders of XOMA Royalty’s (i) 8.625% Series A Cumulative Perpetual Preferred Stock (Nasdaq: XOMAP) (the “Series A Preferred Stock”) (984,000 shares outstanding, CUSIP No. 98419J305) and (ii) depositary shares representing its 8.375% Series B Cumulative Perpetual Preferred Stock (Nasdaq: XOMAO) (represented by 1,760,500 Depositary Shares) (the “Series B Preferred Stock”, and together with the Series A Preferred Stock, the “Preferred Stock”) (CUSIP No. 98419J404). In addition, on July 14, 2026 (the “Redemption Date”), it will redeem all outstanding shares of Preferred Stock, in each case pursuant to Section 5(b) of the applicable Certificate of Designation.

Holders of Series A Preferred Stock shall receive a cash dividend equal to $0.53906 per share. Holders of Series B Preferred Stock shall receive a cash dividend equal to $0.52344 per depositary share. The Preferred Share dividends will be paid on or about July 15, 2026, to respective holders of record at the close of business on July 2, 2026.

The Series A Preferred Stock will be redeemed at a redemption price of $25.00 per share. The Series B Preferred Stock will be redeemed at a redemption price of $25.00 per depositary share. The total redemption price per share will be paid separately from the quarterly cash dividend referred to above.

On and after the Redemption Date, dividends will cease to accrue on the Preferred Stock and the Preferred Stock will cease to be outstanding. Holders of the Preferred Stock (and Depositary Shares representing Series B Preferred Stock) will receive the applicable redemption price through the facilities of The Depository Trust Company in accordance with its standard procedures.

The redemption is being effected in connection with the pending merger of Flex Merger Sub, Inc. with and into XOMA pursuant to the Agreement and Plan of Merger dated April 27, 2026, by and among XOMA, Ligand Pharmaceuticals Incorporated and Flex Merger Sub, Inc.

In connection with the pending Merger, XOMA also announced that the record date for the distribution of contingent value rights (“CVRs”) to holders of XOMA’s common stock entitled to receive CVRs pursuant to the Agreement and Plan of Merger has been set at 5:00 p.m., Eastern time, on July 13, 2026 (the “CVR Record Date”). Each holder of record of XOMA’s common stock as of the CVR Record Date will be entitled to receive one CVR per share as additional merger consideration at the effective time of the Merger. The CVRs represent the right to receive contingent payments derived from the XOMA CVR Trust’s 75% interest in XOMA Royalty LLC and related to the Janssen Litigation (as described in the Merger Agreement). Nasdaq was notified of the CVR distribution in accordance with applicable Nasdaq rules.

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