Xoma reveals successful exchange offer

Xoma of the USA has announced that $60.0 million in aggregate principal amount of its 6.50% convertible senior notes due 2012, or 100% of the total outstanding, were tendered and not withdrawn in its previously-announced exchange offer which expired at midnight, New York City time, on February 8. As a result, the the firm will issue $60.0 million in aggregate principal amount of 6.50% convertible SNAPssm due 2012.

The company also says the placement of $12.0 million in aggregate principal amount of additional convertible SNAPssm to the public for cash. Due to investor demand, the size of the offering was increased from $10.0 million and the public offering price was set at 104% of principal. Both the exchange offer and the placement of new notes are expected to close on February 10.