Company: XOMAP
Filing Date: 2025-10-03
Form Type: 424B5
Source: 0001193125-25-230393
Chunk: 28

Company: XOMA Royalty Corp
Filing Date: 2025-10-03
Form: 424B5
Chunk 28
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 validity of the proceedings for the redemption of any depositary shares or shares of our Series B Preferred Stock except as to a holder to whom notice was defective or not given. Each notice will state the following:

| • |     | the redemption date; |

| • |     | the redemption price; |

| • |     | the number of depositary shares representing interests in the Series B Preferred Stock to be redeemed; |

| • |     | the place(s) where the depositary receipts (or Series B Preferred Stock certificates, if no longer held in 
 depositary form) are to be surrendered for payment;                                                        |

| • |     | that the Series B Preferred Stock is being redeemed pursuant to our Special Optional Redemption Right in                                                                                                                                    
 connection with the occurrence of a Delisting Event or Change of Control, as applicable, and a brief description of the transaction or transactions or circumstances constituting such Delisting Event or Change of Control, as applicable; |

| • |     | that the holders of depositary shares representing interests in the Series B Preferred Stock to which the notice                                                                                   
 relates will not be able to convert such shares of Series B Preferred Stock in connection with the Delisting Event or Change of Control, as applicable, and each share of Series B Preferred Stock |

S-21

| tendered for conversion that is selected, prior to the Delisting Event Conversion Date or Change of Control Conversion Date, as applicable, for redemption will be redeemed on the related date of 
 redemption instead of converted on the Delisting Event Conversion Date or Change of Control Conversion Date, as applicable; and                                                                    |

| • |     | that dividends on the Series B Preferred Stock to be redeemed will cease to accumulate on the date prior to the 
 redemption date.                                                                                                |

A “Change of Control” is when, after the original issuance of the Series B Preferred Stock, the following have occurred and are continuing:

| • |     | the acquisition by any person, including any syndicate or group deemed to be a “person” under                                                                                                                                                           
 Section 13(d)(3) of the Exchange Act of beneficial ownership, directly or indirectly, through a purchase, merger or other acquisition transaction or series of purchases, mergers or other acquisition transactions of shares of our Company            
 entitling that person to exercise more than 50% of the total voting power of all shares of our Company entitled to vote generally in elections of directors (except that such person will be deemed to have beneficial ownership of all securities that 
 such person has the right to acquire, whether