Company: XOMAP
Filing Date: 2025-10-03
Form Type: 424B5
Source: 0001193125-25-230383
Chunk: 49

Company: XOMA Royalty Corp
Filing Date: 2025-10-03
Form: 424B5
Chunk 49
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 and the liquidation preferences of our Preferred
Stock (if any).

The rights of the holders of our Common Stock are subject to, and may be adversely affected by, the rights of holders of shares of any
Preferred Stock that we may designate and issue in the future.

Preferred Stock

General. Under our Certificate of Incorporation, our Board is authorized to issue up to 1,000,000 shares of Preferred Stock, and, by
resolution, to divide the Preferred Stock into series and, with respect to each series, to determine the designations and the powers, preferences and rights, and the qualifications, limitations and restrictions thereof, including the dividend
rights, conversion or exchange rights, voting rights, redemption rights and terms, liquidation preferences, sinking fund provisions and the number of shares constituting the series. Our Board can, without stockholder approval but subject to the
terms of the Certificate of Incorporation and to any

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resolution of the stockholders approved by at least 75% of all issued shares entitled to vote in respect thereof, issue Preferred Stock with voting and other rights that could adversely affect the voting power of the holders of our Common Stock and which could have certain anti-takeover effects. Before we may issue any series of Preferred Stock, our Board will be required to adopt resolutions creating and designating such series of Preferred Stock. The following summary description of the Preferred Stock of the Company, including the Series B Depositary Shares, is qualified in its entirety by reference to the provisions of the Certificate of Incorporation, By-lawsand the certificates of designation of preferences, rights and limitations of each series of the Preferred Stock, copies of which have been filed as exhibits to the Company’s Annual Report on Form 10-K,and the applicable provisions of the DGCL. As of December 31, 2023, 5,003 shares of Series X Convertible Preferred Stock, $0.05 par value (the “ Series X Preferred Stock”), 984,000 shares of Series A Preferred Stock and 1,600,000 Series B Depositary Shares, representing 1,600 shares of Series B Preferred Stock were issued and outstanding. The 8.625% Series A Cumulative Perpetual Preferred Stock.We have designated 984,000 shares of our Preferred Stock as Series A Preferred Stock. The Series A Preferred Stock will rank, as to dividend rights and rights upon our liquidation, dissolution or winding up:

| • |     | senior to all classes or series of our Common Stock and to