Company: XOMAP
Filing Date: 2025-10-03
Form Type: 424B5
Source: 0001193125-25-230383
Chunk: 11

Company: XOMA Royalty Corp
Filing Date: 2025-10-03
Form: 424B5
Chunk 11
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 or are exercised, or other shares are issued, investors purchasing shares in this offering could experience further dilution. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the issuance of these securities could result in further dilution to our stockholders. S-11

DESCRIPTION OF CAPITAL STOCK

The following is a description of our Common Stock, $0.0075 par value, preferred stock, $0.05 par value (the “Preferred Stock”), and depositary
shares. The Common Stock, 8.625% Series A Cumulative Perpetual Preferred Stock, $0.05 par value (the “Series A Preferred Stock”), and the depositary shares (the “Series B Depositary Shares”) each representing a 1/1000th
interest in a share of the Company’s 8.375% Series B Cumulative Perpetual Preferred Stock, $0.05 par value (the “Series B Preferred Stock”), are the only securities of the Company registered pursuant to Section 12 of the
Exchange Act. The following description is based on (i) our Articles of Incorporation, as currently in effect (the “Articles of Incorporation”), (ii) our Bylaws,as currently in
effect (the “Bylaws”), and (iii) applicable provisions of Nevada corporate law. The following summaries are qualified in their entirety by reference to the provisions of the Articles of Incorporation and Bylaws, copies of which are
incorporated by reference herein, and the applicable provisions of Nevada corporate law.

Common Stock

General.We are authorized to issue up to 277,333,332 shares of Common Stock.

Dividend Rights.Subject to the rights of holders of any outstanding series of Preferred Stock, holders of our Common Stock have the right to
receive dividends and distributions, whether payable in cash or otherwise, as may be declared from time to time by our board of directors, from legally available funds. Our board of directors has never declared a dividend on our Common Stock and
does not anticipate declaring a dividend in the foreseeable future on our Common Stock.

Voting Rights.Each holder of our Common Stock is
entitled to one vote for each share of Common Stock owned of record on the applicable record date on each matter properly submitted to and voted on at a meeting of stockholders, except that holders of Common Stock shall not be entitled to vote on
any amendment to the Articles of Incorporation that alters or changes the powers, preferences, rights or other terms of any outstanding