Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 34

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 34
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 • |     | authorize or commit to do any of the foregoing. |

Under and subject to the terms of the Divestiture Agreement, from the date of the Divestiture Agreement until Aadi receives the requisite stockholder approval, Aadi and Aadi Sub may, directly or indirectly through one or

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more of their representatives (1) participate or engage in discussions or negotiations with; and (2) subject to an Acceptable Confidentiality Agreement, (i) furnish any non-publicinformation relating to Aadi or any of its subsidiaries, and (ii) afford access to the business, properties, assets, books, records or other non-publicinformation, or any personnel, of Aadi or any of its subsidiaries to any person or group or their respective representatives that has made, renewed or delivered to Aadi an acquisition proposal after the date of the Divestiture Agreement that was not solicited in material breach of the applicable restrictions, provided that Aadi has agreed to promptly make available to Kaken and its representatives any non-public information concerning Aadi and its subsidiaries that is made available to any such person or group or their respective representatives and that was not previously made available to Kaken. Aadi’s board of directors may only take the foregoing actions if Aadi’s board of directors has determined in good faith (after consultation with its financial advisor and outside legal counsel) that (1) such acquisition proposal either constitutes a superior proposal or is reasonably likely to lead a superior proposal; and (2) the failure to take such actions could reasonably be expected to be inconsistent with its fiduciary duties. 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. For more information, see the section of this proxy statement captioned “ The Divestiture Agreement—No Solicitation of Acquisition Proposals.” Changes in Board Recommendation(see page [●]) Aadi’s board of directors may not withdraw its recommendation that Aadi stockholders approve the Divestiture Agreement or the Divestiture or take certain similar actions other than, under certain circumstances, if it determines in good faith, after consultation with its financial advisor and outside legal counsel, that failure to