Company: XOMAP
Filing Date: 2025-08-18
Form Type: SC TO-T
Source: 0001193125-25-182241
Chunk: 1

Company: XOMA Royalty Corp
Filing Date: 2025-08-18
Form: SC TO-T
Chunk 1
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asers”), to purchase all of the issued and outstanding shares of common stock, par value $0.0001 per share (“ Shares”), of HilleVax, Inc., a Delaware corporation (“ HilleVax”), for a price per Share of (i) $1.95 (the “ Cash Amount”), which Cash Amount is based on an estimated amount of Closing Net Cash (as defined in the Merger Agreement defined below) as of August 4, 2025 equal to $102,950,000 (the “ Signing Net Cash”), payable 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 the Offer to Purchase (as defined below), and subject to and in accordance with the terms and conditions of, the CVR Agreement (as defined below), 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 August 18, 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 August 4, 2025 (together with any amendments or supplements thereto, the “ Merger Agreement”), by and among HilleVax and Purchasers, 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 HilleVax, Inc., a Delaware corporation