Company: XOMAP
Filing Date: 2025-07-11
Form Type: SC TO-T
Source: 0001193125-25-157812
Chunk: 1

Company: XOMA Royalty Corp
Filing Date: 2025-07-11
Form: SC TO-T
Chunk 1
---
34 (the “ Cash Amount”), payable subject to any applicable tax withholding and without interest, and (ii) one non-transferablecontractual contingent value right (“ CVR”) for each Share, 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 CVR Agreement (as described below), 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 Offer to Purchase, dated July 11, 2025 (together with any amendments or supplements thereto, the “ Offer to Purchase”) and in the related Letter of Transmittal, copies of which are attached hereto as exhibits (a)(1)(A) and (a)(1)(B), respectively. The Offer is being made pursuant to the Agreement and Plan of Merger, dated as of June 26, 2025 (together with any amendments or supplements thereto, the “ Merger Agreement”), among Turnstone, Purchaser and XRA 3 Corp., a Delaware corporation and a wholly owned subsidiary of Purchaser (“Merger Sub”), a copy of which is filed as Exhibit (d)(1) hereto and incorporated herein by reference with respect to Items 4 through 11 of this Schedule TO. Capitalized terms used but not otherwise defined herein have the meanings ascribed thereto in the Offer to Purchase. All of the information set forth in the Offer to Purchase is incorporated by reference herein in response to Items 1 through 9 and Item 11 of this Schedule TO, and is supplemented by the information specifically provided in this Schedule TO.

| ITEM 1. | SUMMARY TERM 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