XOMA Royalty Corporation (XOMA) and Turnstone Biologics Corp. have entered into a definitive merger agreement.
Under this agreement, XOMA Royalty Corporation will acquire Turnstone Biologics for $0.34 in cash per share plus one non-transferable contingent value right.
XOMA Royalty Corporation will commence a tender offer by July 11, 2025.
The offer aims to acquire all outstanding shares of Turnstone common stock.
Stockholders holding approximately 25.2% of Turnstone common stock have signed support agreements.
These stockholders have agreed to tender their shares in the offer and support the merger transaction.
The merger transaction is expected to close in August 2025.
