Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 128

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 128
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 communicated in writing by Kaken prior to the time of such determination, and (ii) those factors and matters deemed relevant in good faith by Aadi’s board of directors, which factors may include the (A) identity of the person making the proposal, (B) likelihood of consummation in accordance with the terms of such acquisition proposal, and (C) legal, financial (including the financing terms), regulatory, timing and other aspects of such acquisition proposal. For purposes of the reference to an “acquisition proposal” in this definition, all references to “15%” in the definition of “Acquisition Transaction” in the Divestiture Agreement will be deemed to be references to “50%.” Aadi is not entitled to terminate the Divestiture Agreement to enter into an agreement for a Superior Proposal unless it complies with certain procedures in the Divestiture Agreement, including engaging in good faith negotiations with Kaken and its representatives during a specified period. If Aadi terminates the Divestiture Agreement in order to accept a Superior Proposal from a third party, it must pay the termination fee of $3.5 million to Kaken. The Aadi Board of Directors Recommendation; Board Recommendation Change Aadi’s board of directors has recommended that the holders of shares of Aadi common stock vote “FOR” the Divestiture Proposal. Under the Divestiture Agreement, except as set forth below, at no time after the date of the Divestiture Agreement may Aadi’s board of directors:

| • |     | withhold, withdraw, or publicly propose to withhold or withdraw, the Aadi board of directors’ 
 recommendation;                                                                               |

| • |     | amend, qualify or modify, or publicly propose to amend, qualify or modify, the Aadi board of directors’ 
 recommendation in a manner adverse to Kaken;                                                            |

| • |     | adopt, approve or recommend an acquisition proposal; |

| • |     | fail to publicly reaffirm the Aadi board of directors’ recommendation within 10 business days of Kaken 
 so requesting in writing;                                                                              |

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| • |     | take or fail to take any action or make or fail to make any recommendation in connection with a tender or                                                                                                                                          
 exchange offer, other than a recommendation against such offer or the issuance of a “stop, look and listen” communication by Aadi’s board of directors to the Aadi stockholders pursuant to Rule                                                   
 14d-9(f) promulgated under the Exchange Act (or any substantially