Xbiotech commences tender offer to purchase up to $80,000,000 worth of its shares

Austin, texas, may 17, 2023 (globe newswire) -- xbiotech inc. (nasdaq: xbit) (“xbiotech”) announced today that it commenced a “modified dutch auction” issuer tender offer to purchase up to $80,000,000 in value of its common shares, or such lesser number of common shares as are properly tendered and not properly withdrawn, at a price not greater than $4.00 nor less than $3.80 per common share, to the seller in cash, less any applicable withholding taxes and without interest (the “offer”). the offer is made upon the terms and subject to the conditions described in an offer to purchase dated may 17, 2023, the related letter of transmittal and the website established for purposes of effectuating the offer. the closing price of xbiotech's common shares on the nasdaq global select market on may 17, 2023, the last trading day before the commencement of the offer, was $3.48 per share. the offer is scheduled to expire at 5:00 p.m., eastern time, on june 15, 2023, unless the offer is extended.
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