Company: XOMAP
Filing Date: 2025-07-24
Form Type: SC TO-T/A
Source: 0001193125-25-163557
Chunk: 2

Company: XOMA Royalty Corp
Filing Date: 2025-07-24
Form: SC TO-T/A
Chunk 2
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 SHEET. |

The information set forth in the section of the Offer to Purchase titled “Summary Term Sheet” is incorporated herein by reference.

| ITEM 2. | SUBJECT COMPANY INFORMATION. |

The subject company and the issuer of the securities subject to the Offer is Turnstone Biologics Corp., a Delaware corporation. For purposes of compliance with applicable requirements of the Securities Act of 1933, as amended, and Securities Exchange Act of 1934, as amended, any stockholder communication required to be sent to Turnstone’s principal executive offices may be sent to Turnstone Biologics Corp., 9310 Athena Circle, Suite 3000, La Jolla, California 92037. Turnstone’s telephone number is (347) 897-5988. This Schedule TO relates to the Shares. According to Turnstone, as of the close of business on July 10, 2025, there were: (i) 23,140,691 Shares issued and outstanding, (ii) 1,856,251 Shares subject to outstanding Turnstone Stock Options and (iii) 1,135 Shares subject to outstanding Turnstone Restricted Stock Units. The information concerning the principal market on which the Shares are traded, and certain high and low sales prices for the Shares in the principal market in which the Shares are traded set forth in “Special Factors—Section 3. Price Range of Shares; Dividends” of the Offer to Purchase, are incorporated herein by reference.

| ITEM 3. | IDENTITY AND BACKGROUND OF FILING PERSON. |

(a)–(c) The filing company of this Schedule TO is Purchaser. Purchaser’s principal executive office is located at 2200 Powell Street, Suite 310, Emeryville, California 94608. Purchaser’s telephone number is (510) 204-7200. Purchaser was incorporated in Delaware in 1981 and redomiciled as a Bermuda-exempted company in December 1998. Effective December 31, 2011, Purchaser redomiciled from Bermuda back to to Delaware. Purchaser subsequently reincorporated in Nevada on May 30, 2025. Purchaser’s primary business is as a biotech royalty aggregator with a sizable portfolio of economic rights to future potential milestone and royalty payments associated with partnered commercial and pre-commercialtherapeutic drug candidates. The executive officers of Purchaser are Owen Hughes, its Chief Executive Officer, Tom Burns, its Senior Vice President, Finance and Chief Financial Officer, and