XOMA Corp. closed its previously announced rights offering, raising $20 million.
The Emeryville, Calif.-based drug developer sold 285,689 common shares at $13 apiece and 1,252.772 series Y preferred shares at $13,000 apiece.
Existing stockholders bought 570.126 of the series Y preferred shares, while BVF Partners LP, XOMA's largest stockholder, exercised its oversubscription rights and acquired the remaining 682.646 series Y preferred shares.
D.F. King & Co. Inc. acted as information agent for the rights offering.