Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 42

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 42
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adi’s certificate of
incorporation or bylaws in connection with the Divestiture Agreement.

Summary of the PIPE Financing and the License Agreement

The PIPE Financing and Subscription Agreement (see page 110)

On December 19, 2024, Aadi entered into the Subscription Agreement with each of the PIPE Investors, pursuant to which Aadi agreed to issue and sell to the
PIPE Investors (i) 21,592,000 shares of Aadi’s common stock at a purchase price of $2.40 per share, and (ii) 20,076,500 Pre-Funded Warrants to acquire shares of Aadi’s common stock, at
a purchase price of $2.3999 per Pre-Funded Warrant, for aggregate gross proceeds of $100 million. The closing of the PIPE Financing is expected to occur on a date that is no later than five business days from
the date on which stockholder approval is obtained.

The License Agreement (see page 111)

On December 19, 2024, Aadi entered into the License Agreement with WuXi Biologics for exclusive rights to certain patents and know-how pertaining to WuXi Biologics’ pre-clinical antibody drug conjugate programs leveraging Hangzhou DAC’s linker-payload technology targeting each of Mucin-16 (MUC16), Protein Tyrosine Kinase 7 (PTK7) and Seizure Related 6 Homolog (SEZ6). Under the License Agreement, Aadi paid WuXi Biologics a non-refundable, partial
upfront payment of $6 million upon signing the License Agreement and is required to pay an additional non-refundable, upfront payment of $38 million within ninety (90) days after the signing of the
License Agreement, which may be extended by either party for an additional thirty (30) days.

In accordance with the License Agreement, WuXi
Biologics is eligible to receive from Aadi (a) up to an aggregate of $265 million upon the achievement of certain development milestones, and (b) up to an aggregate of $540 million upon the achievement of certain commercial
milestones, in each case, across all ADC Programs. WuXi Biologics is also entitled to running royalties during the agreed upon royalty term ranging from low-single-digit to upper-single-digit
percentages of annual net sales of licensed products in the territory.

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The License Agreement will terminate in its entirety if Aadi fails to pay the second upfront