Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 91

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 91
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 of contingent consideration, and the fact that Bidder H was far behind in due diligence, Aadi’s board of directors determined to deprioritize such proposal relative to the proposals received from Bidder B and Kaken Parent. On that same day, following the meeting of Aadi’s board of directors:

| • |     | Representatives of the Aadi management team, Leerink Partners and Wilson Sonsini held several videoconference and                         
 telephonic meetings to strategize regarding the Bidder B December 17 Proposal and subsequent negotiations with Bidder B and Kaken Parent; |

| • |     | At the direction of Aadi’s board of directors, representatives of Leerink Partners informed representatives                                                                                                                                              
 of Nomura that, prior to 12:59 a.m. Eastern time the following day (December 18), Kaken Parent would need to make a significant improvement to the cash consideration offered at closing and drop the requirement for an escrow or Aadi would enter into 
 exclusivity with another bidder, as a result of a substantially improved proposal from such bidder which would expire in a few hours;                                                                                                                    |

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| • |     | Representatives of Wilson Sonsini and Bidder B’s legal counsel held a teleconference to discuss the Bidder B 
 December 17 Proposal and related process, documentation and timing;                                          |

| • |     | Representatives of McDermott communicated to representatives of Wilson Sonsini to request on behalf of Kaken                                
 Parent a bid amount that would be acceptable to Aadi and sufficient to induce Aadi to immediately enter into exclusivity with Kaken Parent; |

| • |     | At the direction of Aadi’s board of directors, representatives of Wilson Sonsini informed representatives of                                                                                                                            
 McDermott, and representatives of Leerink Partners informed representatives of Nomura, that Kaken Parent would need to offer $105 million in an updated non-binding indication of interest, signed by a                                 
 person of authority at Kaken Parent with assurances of approval by Kaken Parent’s board of directors (for which a meeting was already scheduled for December 18), in order for Aadi to agree to exclusivity with Kaken Parent, with the 
 indication of interest submitted preferably by 12:59 a.m. Eastern time on the following day (December 18), but no later than the morning of the following day;                                                                          |

| • |     | Representatives of Wilson Sonsini shared a revised draft of the exclusivity agreement with representatives of 
 Bidder B’s legal counsel, which contained