Company: XOMAP
Filing Date: 2025-08-15
Form Type: 8-K
Source: 0001193125-25-181840
Chunk: 1

Company: XOMA Royalty Corp
Filing Date: 2025-08-15
Form: 8-K
Item: Item 2.01
Chunk 1
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ary and paying agent for the Offer, a total of 17,192,002 Shares were validly tendered, and not validly withdrawn, representing approximately 74% of the outstanding Shares. All conditions to the Offer, including the Minimum Tender Condition (as defined in the Merger Agreement), were satisfied or waived and XOMA accepted for payment all Shares validly tendered and not validly withdrawn in the Offer.

Following the consummation of the Offer, the remaining conditions to the Merger set forth in the Merger Agreement were satisfied or waived, and on August 11, 2025 (the “ Closing Date”), Merger Sub merged with and into Turnstone (the “Merger”), the separate corporate existence of Merger Sub ceased and Turnstone continued as the surviving corporation in the Merger (the “ Surviving Corporation”) and a wholly owned subsidiary of XOMA. The Merger was completed pursuant to Section 251(h) of the General Corporation Law of the State of Delaware, as amended (“DGCL”), with no stockholder vote required. At the effective time of the Merger (the “ Effective Time”), each outstanding Share (other than Shares (i) owned by Turnstone immediately prior to the Effective Time, (ii) owned by XOMA, Merger Sub or any other subsidiary of XOMA immediately prior to the Effective Time, (iii) irrevocably accepted for purchase in the Offer or (iv) held by any stockholders or owned by any beneficial owners of Shares who are entitled to demand, and have properly demanded, appraisal of such Shares in accordance with the DGCL and have neither failed to perfect nor effectively withdrawn or lost such rights prior to the Effective Time) was automatically converted into the right to receive (i) an amount in cash without interest, less any applicable tax withholding, equal to the Cash Amount and (ii) one CVR.