Company: XOMAP
Filing Date: 2025-10-03
Form Type: 424B5
Source: 0001193125-25-230393
Chunk: 49

Company: XOMA Royalty Corp
Filing Date: 2025-10-03
Form: 424B5
Chunk 49
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 entity” (each as defined in the Code), unless: (i) the foreign financial
institution undertakes certain diligence, reporting and withholding obligations; (ii) the non-financial foreign entity either certifies it does not have any “substantial U.S. owners” (as
defined in the Code) or furnishes identifying information regarding each substantial U.S. owner; or (iii) the foreign financial institution or non-financial foreign entity otherwise qualifies for an
exemption from these rules. If the payee is a foreign financial institution and is subject to the diligence, reporting and withholding requirements in (i) above, it must enter into an agreement with the U.S. Department of the Treasury
requiring, among other things, that it undertake to identify accounts held by certain “specified U.S. persons” or “United States-owned foreign entities” (each as defined in the Code), annually report certain information about
such accounts, and withhold 30% on certain payments to noncompliant foreign financial institutions and certain other account holders. Foreign financial institutions located in jurisdictions that have an intergovernmental agreement with the United
States concerning FATCA may be subject to different rules. If a dividend payment is both subject to withholding under FATCA and subject to the withholding tax discussed above under the section titled “Tax Considerations for Non-U.S. Holders-Distributions,” the withholding under FATCA may be credited against, and therefore reduce, such other withholding tax.

Each Non-U.S. Holder is urged to consult with its tax advisor regarding the possible implications of FATCA on such
Non-U.S. Holder’s investment in our Series B Preferred Stock.

EACH PROSPECTIVE INVESTOR IS URGED TO CONSULT ITS TAX ADVISOR REGARDING THE TAX CONSIDERATIONS OF OWNING AND DISPOSING OF OUR SERIES B PREFERRED STOCK, INCLUDING THE CONSIDERATIONS OF ANY RECENT OR PROPOSED CHANGE IN APPLICABLE LAW.

S-35

PLAN OF DISTRIBUTION

We have entered into the Sales Agreement with Wainwright, or the Agent, under which we may, from time to time, issue and sell up to Series B Depositary Shares
having an aggregate offering price of up to $50,000,000.

Sales, if any, of our Series B Depositary Shares made through or to the Agent, as contemplated
by this prospectus, may be made by means of transactions that are deemed to be “at the market offerings” as defined in Rule 415