Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 150

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 150
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 to confidential information to include actual and/or potential investors in Aadi.

On September 16, 2024, Aadi’s board of directors held a virtual meeting with Aadi’s management and representatives of Leerink Partners and
Wilson Sonsini. At the meeting, Aadi’s management presented regarding the status of the negotiation of the License Agreement and related transactions, including a potential PIPE (private investment in public equity) financing to support license
payments to WuXi Biologics under the License Agreement and also capitalize the business following the execution of the License Agreement. In addition, management and Leerink Partners discussed the status of the dissolution analysis scenario to be
presented in full at a future board meeting. With respect to the PIPE Financing, Aadi’s board of directors discussed Aadi’s

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anticipated capital needs if the transactions contemplated by the License Agreement were consummated, the potential size of the PIPE Financing, the investment thesis for the PIPE Financing, and
related risks. Following discussion, Aadi’s board of directors determined that directors Drs. Aghazadeh, Castelein and Dalal would recuse themselves during further conversations of Aadi’s board of directors regarding the PIPE Financing, as
it was contemplated that funds affiliated with such directors might participate in the PIPE Financing.

On September 18, 2024, Aadi and WuXi
Biologics entered into an amendment to the Term Sheet to extend the mutual exclusivity period to October 31, 2024.

From September 23 to
September 25, 2024, representatives of Aadi, including Dr. Lennon and Bryan Ball, Aadi’s Chief Technical Operations Officer, conducted on-site due diligence visits at the offices of WuXi
Biologics in Shanghai, China, and the offices of Hangzhou DAC in Hangzhou, China.

On October 3, 2024, Aadi’s board of directors held a virtual
meeting with Aadi’s management and representatives of Wilson Sonsini at which Aadi’s management presented regarding the License Agreement and the ADC Programs and discussed, among other things, Aadi’s due diligence process and
findings to date (including from the recent visit to China), intellectual property due diligence, the status of a data room made available to directors to conduct their own due diligence of the ADC Programs, timing considerations for a potential
transaction, and potential new director and executive officer additions to support the development of the ADC Programs. Aadi’s board of directors deliberated regarding these matters