Xoma announces closing of transactions to acquire Lava Therapeutics

XOMA Royalty (XOMA) completed its previously announced acquisition of all the outstanding common shares of LAVA Therapeutics (LVTX) with a nominal value of EUR 0.12 per share. LAVA shareholders received $1.04 in cash per Share and a non-transferrable contingent value right per Share representing the right to receive certain cash payments, including the right to receive, among other things, 75% of any net proceeds related to LAVA’s two partnered assets plus 75% of any net proceeds from any out license or sale of LAVA’s unpartnered programs plus the right to receive up to approximately $0.23 per CVR depending on the final determination after closing of certain potential liabilities. As of the Final Expiration Date, a total of 23,956,708 Shares were validly tendered, and not validly withdrawn, representing approximately 91.1% of the outstanding Shares as of the Final Expiration Date. Following the acceptance for payment of all Shares tendered in the subsequent offering period, LAVA consummated a corporate reorganization resulting in XOMA Royalty acquiring 100% of the shares in LAVA’s successor and all then-remaining LAVA shareholders receiving the same cash and CVR consideration per share as is provided in the tender offer, subject to applicable withholding taxes. Prior to the opening of trading on November 21, 2025, public trading of the Shares was suspended, and LAVA intends promptly to cause such Shares to be delisted from Nasdaq and deregistered under the Securities Exchange Act of 1934, as amended.