Mergers & Acquisitions ·
On July 14, 2026, Ligand Pharmaceuticals completed its merger with XOMA Royalty Holdings Corporation
LGNZZLigand Pharmaceuticals Inc
On July 14, 2026, Ligand Pharmaceuticals completed its merger with XOMA Royalty Holdings Corporation. XOMA Royalty shareholders received $39.00 per share in cash plus contingent value rights (CVRs) representing an interest in XOMA Royalty LLC. In connection with the closing, the company entered into an Amended and Restated Credit Agreement providing a $125.0 million revolving credit facility maturing September 12, 2028. The facility includes a consolidated senior secured net leverage ratio covenant of 2.50 to 1.00 and minimum consolidated EBITDA requirements of $100 million through March 31, 2027, increasing to $150 million thereafter. Ligand Pharmaceuticals is a biopharmaceutical company that develops and acquires royalty interests in pharmaceutical products.