Mural Oncology plc (NASDAQ: MURA), a clinical-stage immuno-oncology company, and XOMA Royalty Corporation (NASDAQ: XOMA), a biotechnology royalty aggregator, announced today they have entered into a definitive agreement pursuant to which XRA 5 Corp., a newly formed company wholly owned by XOMA Royalty, has agreed to acquire the entire issued and to be issued share capital of Mural for cash subject to the satisfaction of the closing conditions set out in Appendix I of this Announcement, including approval by Mural Shareholders.
Following a strategic review process, the Mural board of directors, determined the acquisition and cash offer by XOMA Royalty is in the best interests of all Mural Shareholders and has approved the Acquisition. The Acquisition has also been approved by the boards of directors of XOMA Royalty and Sub.
Under the terms of the Acquisition and subject to certain conditions, at closing, each Mural Shareholder (i) would receive a base cash price of $2.035 per share (the “Base Price Per Share”) and (ii) may receive an additional cash amount per share of up to $0.205 (the “Additional Price Per Share”) which would be calculated on the basis of the amount by which Mural’s Closing Net Cash on the Closing Net Cash Date exceeds its Estimated Closing Net Cash.
MURA shares advanced 29 cents, or 15.8%, to $2.09, while XOMA grabbed 22 cents to $32.28.
