Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 81

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 81
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 for the definitive agreement.

On October 10, 2024, at the direction of Aadi,
representatives of Leerink Partners distributed a second-round process letter to active bidders, requesting updated non-binding indications of interest by October 15, 2024. On that same day, at the
direction of Aadi, representatives of Leerink Partners shared with Bidder B an updated draft of what had been a stock purchase agreement, but which had been revised to reflect the asset purchase structure proposed by Bidder B (the “Bidder B
APA”).

On October 17, 2024, representatives of Aadi, Bidder B and Leerink Partners met via videoconference to discuss Bidder B’s due
diligence questions.

On October 17, 2024, representatives of Nomura, on behalf of Kaken Parent, submitted to representatives of Leerink Partners a non-binding indication of interest to acquire all of the outstanding shares of Aadi on a fully-diluted basis for $80.0 million, on a cash-free, debt-free basis, representing an implied premium of 145% over the
closing price of $2.13 as of October 15, 2024 (the “Kaken October 17 Proposal”).

On October 18, 2024, representatives of Leerink
Partners informed representatives of Bidder B’s financial advisor that a competitive bid had been received by another party. On October 22, 2024, representatives of Leerink Partners and Bidder B’s financial advisor met via
videoconference to further discuss whether, in light of such development, Bidder B would be interested in improving its bid.

On October 22, 2024,
representatives of Bidder B sent to representatives of Leerink Partners a revised non-binding indication of interest (the “Bidder B October 22 Proposal”) to acquire the FYARRO business in an all-cash transaction structured as an asset purchase, with up-front consideration at closing of $80 million. Such consideration would be financed through Bidder B’s
existing balance sheet cash, debt from its existing lenders, and new equity from its private equity sponsor. At this time, representatives of Bidder B summarized open due diligence items and also requested Aadi’s consent under Bidder B’s
confidentiality agreement to share confidential information with Bidder B’s lender base (which Aadi provided). Concurrently with the delivery of the Bidder B October 22 Proposal, representatives of Bidder B shared