Latham Advises on Xencor’s US$175 Million Public Offering of Common Stock

Xencor, Inc. (Xencor) (Nasdaq: XNCR), a clinical-stage biopharmaceutical company developing engineered antibodies for the treatment of cancer and other serious diseases, has announced the pricing of its underwritten public offering of (i) 6,635,112 shares of its common stock at a price to the public of US$18.00 per share and (ii) pre-funded warrants to purchase up to an aggregate of 3,088,888 shares of common stock at a price to the public of US$17.99 per pre-funded warrant. The pre-funded warrants will be immediately exercisable and will have an exercise price of US$0.01 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately US$175 million. Xencor has also granted the underwriters a 30-day option to purchase up to 1,458,600 additional shares of its common stock. All of the shares of common stock and pre-funded warrants in the offering are to be sold by Xencor. The offering is expected to close on or about September 12, 2024, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP is advising the underwriters in the offering with a capital markets team led by San Diego partner Matt Bush and counsel Anthony Gostanian, with associates Omeed Abbas Valipour and Arielle Schechtman.