Company: XOMAP
Filing Date: 2025-08-15
Form Type: 8-K
Source: 0001193125-25-181840
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Company: XOMA Royalty Corp
Filing Date: 2025-08-15
Form: 8-K
Item: Item 2.01
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Item 2.01      Completion of Acquisition or Disposition of Assets.  

As previously disclosed, XOMA Royalty Corporation (“ XOMA”) entered into an Agreement and Plan of Merger, dated June 26, 2025 (the “ Merger Agreement”), with Turnstone Biologics Corp., a Delaware corporation (“ Turnstone”), and XRA 3 Corp., a Delaware corporation and a wholly owned subsidiary of XOMA (“ Merger Sub”).

Pursuant to the Merger Agreement, and upon the terms and subject to the conditions thereof, on August 8, 2025, XOMA completed a tender offer to purchase all of Turnstone’s outstanding shares of common stock, par value $0.001 per share (the “ Shares”), for a price per Share of (i) $0.34 (the “ Cash Amount”), payable subject to any applicable tax withholding and without interest, plus (ii) one non-transferablecontractual contingent value right (“ CVR”), which shall represent the right to receive potential payments, in cash, described in, and subject to and in accordance with the terms and conditions of, the Contingent Value Rights Agreement, dated August 11, 2025 (the “ CVR Agreement”), by and among XOMA, Broadridge Corporate Issuer Solutions, LLC, a Pennsylvania limited liability company, as rights agent, and WT Representative LLC, a Delaware limited liability company, as initial representative of the Holders (as defined therein), subject to any applicable tax withholding and without interest (such amount, the “ CVR Amount,” and together with the Cash Amount, the “ Offer Price”), all upon the terms and subject to the conditions described in the Amended and Restated Offer to Purchase, dated July 23, 2025 (together with any amendments or supplements thereto, the “ Offer to Purchase”), and in the related Letter of Transmittal (together with any amendments or supplements thereto, the “ Letter of Transmittal,” which, together with the Offer to Purchase, constituted the “ Offer”), copies of which are attached to the Tender Offer Statement on Schedule TO filed with the SEC on July 23, 2025 as exhibits (a)(1)(E) and (a)(1)(B), respectively.

The Offer expired as scheduled, one minute after 11:59 p. m. Eastern Time on Thursday, August 7, 2025. According to Broadridge Corporate Issuer Solutions, LLC, the deposit