Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 93

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 93
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 Wilson Sonsini then made a legal presentation to Aadi’s board of directors and, among other things, reviewed the fiduciary
duties of Aadi’s board of directors under Delaware law with respect to the Divestiture Agreement and related transactions. Aadi’s board of directors further discussed various considerations with respect to the proposed transaction, as
summarized under “Reasons for the Divestiture and Recommendation of the Aadi Board of Directors.” Following discussion and the presentations, Aadi’s board of directors approved the Divestiture Agreement and related
transactions.

Later on December 19, 2024, Aadi, Kaken and Kaken Parent entered into the Divestiture Agreement and applicable parties signed Support
Agreements and Restrictive Covenants Agreements. A press release regarding the execution of the Divestiture Agreement and related matters was issued after the close of market that same day. Aadi filed a current report on Form 8-K with the SEC announcing the execution of the Divestiture Agreement and related matters on December 20, 2024 before market open.

Reasons for the Divestiture and Recommendation of the Aadi Board of Directors

Recommendation of Aadi’s Board of Directors

After considering the various factors described below, Aadi’s board of directors unanimously: (i) determined that it is expedient and in the best
interests of Aadi and its stockholders, and advisable, fair to and in the best interests of Aadi and its stockholders, to enter into the Divestiture Agreement and related agreements providing for the Divestiture, in accordance with the Delaware
General Corporation Law and upon the terms and subject to the conditions set forth in the Divestiture Agreement; (ii) approved, adopted and declared advisable the Divestiture Agreement and related agreements and the Divestiture;
(iii) recommended that Aadi’s stockholders vote in favor of the approval of the Divestiture Agreement and related agreements and approve the Divestiture; and (iv) directed that the Divestiture Agreement and related agreements and the
Divestiture be submitted to a vote of Aadi’s stockholders.

The Aadi board of directors unanimously recommends that you vote (i) “FOR” the Divestiture Proposal and (ii) “FOR” the Adjournment Proposal.

Reasons for the Aadi Board of Directors’ Recommendation in Favor of the Divestiture

Aadi’s board of directors, at a meeting held on December 19,