Drug royalty company XOMA Corporation (XOMA) has priced a new preferred.
The coupon is 8.375% and it is cumulative. I have defined the dividend as ‘variable’ because earnings are ‘lumpy’ and there may be some dividends that are return of capital.
The issue did not trade on the OTC grey market but has just started trading on the NASDAQ today under ticker XOMAO. Now trading at $24.70
The company has a 8.625% preferred issue outstanding as well–both issues can be seen here. Disclosure–I own the 8.625% issue.