Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 85

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 85
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 diligence items.
Representatives of Nomura also communicated that they did not expect that Kaken Parent would further increase the base purchase price above $85 million.

On December 2, 2024, representatives of Leerink Partners and Bidder B held a videoconference meeting at which, at the direction of Aadi, representatives
of Leerink Partners informed Bidder B that the Bidder B October 22 Proposal now ranked behind a competing bidder on economic terms and encouraged Bidder B to improve its offer.

On December 2, 2024, representatives of Wilson Sonsini and McDermott met via videoconference to discuss the most recent draft of the Divestiture
Agreement circulated by Nomura. Among other things, Wilson Sonsini

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informed McDermott that the closing conditions regarding the Pre-Closing Restructuring and the Retained Employees required further clarification so as to
make the satisfaction of such closing conditions reasonably within Aadi’s control. Wilson Sonsini also communicated that the indemnity and escrow fund constructs added to the Divestiture Agreement were not present in other competitive proposals
and suggested that Kaken Parent remove these and consider procuring a representation and warranty insurance (“RWI”) policy instead.

On
December 4, 2024, at the direction of Aadi, representatives of Leerink Partners shared a revised draft of the Divestiture Agreement with representatives of Nomura. Among other things, the revised draft removed the proposed indemnity and escrow
fund constructs; removed the proposed indemnification mechanism for breaches of Aadi representations and warranties; replaced the proposed termination fee of $6 million with an amount to be determined; and removed the closing conditions related
to the Pre-Closing Restructuring and the Retained Employees.

On that same day, upon the unsolicited request of a
new potential bidder, Bidder H, and representatives of Leerink Partners met via videoconference with representatives of Bidder H to discuss its interest in the FYARRO business and in participating in the bid process.

On December 5, 2024, representatives of Wilson Sonsini and McDermott met via videoconference to discuss the updated draft of the Divestiture Agreement
including, among other things, the Pre-Closing Restructuring (which McDermott clarified was intended to encompass a series of transactions that would ensure that substantially all operations of Aadi with
respect to FYARRO would be possessed by Aadi Sub and not remain within the publicly listed company), indemnification for