BERKELEY, Calif.--(BUSINESS WIRE)--Feb. 9, 2006--XOMA Ltd. (Nasdaq:XOMA) announced today that $60 million in aggregate principal amount of the Company’s 6.50% Convertible Senior Notes due 2012, or 100% of the total outstanding, were tendered and not withdrawn in its previously-announced exchange offer which expired at 12:00 midnight, New York City time, on February 8, 2006. As a result of the exchange offer, the Company will issue $60 million in aggregate principal amount of 6.50% Convertible SNAPssm due 2012. The Company also announced the placement of $12 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 million to $12 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, 2006.
