Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 166

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 166
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 effective date of the resale registration statement contemplated
to be filed by Aadi with the SEC pursuant to the Registration Rights Agreement. Such lock-up agreements were signed and delivered in connection with the signing of the Subscription Agreement on
December 19, 2024.

On December 19, 2024, the PIPE Pricing Committee held a virtual meeting at which representatives of Aadi’s management,
Leerink Partners and Wilson Sonsini were present. At the meeting, Aadi’s management team provided an update regarding the PIPE Financing, including an updated investor list (comprised of nine total institutional investors, of which six were
unaffiliated with Aadi’s directors and officers), proposed allocations, and proposed parameters for the PIPE Financing relating to size and price, as well as an update regarding the status of investor due diligence. The PIPE Pricing Committee
discussed the foregoing matters with Aadi’s management team and also discussed, among other things, feedback from a major lead third party investor that the anticipated price for the PIPE Financing would likely be a small premium to market
price; the low probability of being able to significantly improve upon such price, based on the price discovery process to date and the importance of not losing any investor in the syndicate; the feedback that the improved bids for the proposed sale
of the FYARRO business were not meaningfully impacting pricing discussions because Aadi was being valued by investors as a preclinical opportunity and discounted accordingly; updates to the dissolution analysis based on the improved bids for the
proposed sale of the FYARRO business; and the difficulty of holding the investor syndicate for the PIPE Financing together if the definitive agreement for the sale of the FYARRO business, the License Agreement and the PIPE Financing were not
announced concurrently, or if the PIPE Financing was significantly delayed. Following discussion, the PIPE Pricing Committee directed Aadi’s management team to continue to negotiate the best possible price in the PIPE Financing. The PIPE
Pricing Committee also expressed support for the proposed parameters for the PIPE Financing relating to size and price as presented.

On that same day,
Aadi’s board of directors held a virtual meeting at which representatives of Aadi’s management team, Leerink Partners and Wilson Sonsini were present. At the meeting, Aadi’s management team presented regarding the status of the
License Agreement, which was in substantially final form, and also the PIPE Financing, including the updated investor list presented to the PIPE Pricing Committee, proposed allocations, and proposed parameters for the PIPE Financing relating to size
and price