Company: WHWK
Filing Date: 2025-02-05
Form Type: DEFA14A
Source: 0001193125-25-020865
Chunk: 1

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-02-05
Form: DEFA14A
Chunk 1
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 transactions: the sale of FYARRO and its associated infrastructure to Kaken Pharmaceuticals for $100 million in
cash; the in-licensing of a thoughtfully selected, promising portfolio of antibody drug conjugates (ADCs) from WuXi Biologics; and a $100 million private investment financing to enable the development of
these ADC assets.

The Company expects to close these transactions in the first quarter of 2025, subject to stockholder approval at the Special Meeting
and the satisfaction of other closing conditions.

In a supporting letter, Aadi’s Board recommends stockholders vote “FOR” all proposals to
support the company’s business transformation to maximize the Company’s opportunity for long-term value creation.

The full text of the letter
that is being mailed with the definitive proxy statement follows:

Dear Fellow Aadi Stockholders,

We are writing to encourage you to review the enclosed materials and to vote in favor of the proposals that are being put to a vote at the upcoming Special
Meeting of Stockholders, which is scheduled for February 28, 2025 at 10:00 am Pacific Time.

We have recently undertaken bold action to maximize the
Company’s potential. Our transformative actions, first announced in December 2024, entail a series of transactions that we believe will create significant value for our stockholders, while remaining rooted in Aadi’s legacy of delivering
improved oncology therapies for people with difficult-to-treat cancers.

Our progress as a company has not always been linear. After successfully launching FYARRO in 2022
and generating approximately $58 million in aggregate sales as a therapy for PEComa (as of September 30, 2024), we experienced a setback in August 2024 when it became apparent that a Phase 2 trial for an additional indication was unlikely
to deliver the results needed to support accelerated approval and justify our continued investment. At that time, we

made the difficult decision to discontinue the trial and substantially reduce our workforce to preserve cash. Management and the Board, with the support of independent advisors, then determined to formally pursue strategic options to maximize stockholder value, which management and the Board had started to consider in March 2024 in light of the risks and uncertainties relating to the Phase 2 trial of FYARRO. During its comprehensive review, the Board evaluated many alternatives, including a sale of the entire Company, acquisitions of other companies and assets, in-licensingopportunities, mergers and reverse mergers, and a dissolution of the Company.