Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 154

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 154
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adi engaged Jefferies to serve as its exclusive financial advisor in connection with the PIPE Financing. On that same day, Jefferies commenced wall-crossing prospective investors for the PIPE Financing, targeting sophisticated, biotech-focused
investors (including some of Aadi’s existing stockholders as well as new prospective investors), who Jefferies, in consultation with representatives of Aadi, determined were the most likely investors to be interested, given the preclinical
stage of the ADC Programs to be funded by the PIPE Financing, and coordinated with Aadi to provide such investors with data room access. On November 20, 2024, representatives of Aadi management and Jefferies commenced videoconference meetings
with prospective investors for the PIPE Financing. On November 22, 2024, representatives of Jefferies commenced distributing drafts of the documentation for the PIPE Financing, including the forms of the Subscription Agreement, Registration
Rights Agreement and Pre-Funded Warrant, to prospective investors for review. Following such distribution, Aadi management and representatives of Wilson Sonsini directly negotiated the forms of such documents
with prospective investors and their counsel until the signing of the Subscription Agreement on December 19, 2024.

On November 19, 2024,
representatives of WuXi Biologics informed representatives of Aadi via telephone that splitting the upfront license fee payment into two payments might be acceptable depending on the amount of the payment due upon signing the License Agreement and
proposed at least $10.0 million for such payment.

On November 22, 2024, representatives of Aadi proposed via email to representatives of WuXi
Biologics certain revisions to the upfront license fee payment, including an $8.0 million upfront license fee payment due upon signing the License Agreement, $4.0 million of which would be refundable if Aadi failed to obtain stockholder
approval for the PIPE Financing. On the same day, representatives of WuXi Biologics proposed via email to representatives of Aadi certain counterproposals related to the upfront license fee payment, principally that the total amount of the upfront
license fee payment would be increased from $42.0 million to $44.0 million and the portion of the upfront license fee payment due upon signing the License Agreement would be increased from $4.0 million to $6.0 million and would
be entirely non-refundable. On November 24, 2024, representatives of Aadi communicated to representatives of WuXi Biologics that the proposed revisions