Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 189

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 189
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 shares of common stock to be issued is or will be equal to or in excess of 20% of the number of shares of common stock outstanding before the issuance of such securities.

In connection with the closing of the PIPE Financing, Aadi expects to issue, other than in a public offering, an aggregate of (i) 21,592,000 shares of
Aadi’s common stock and (ii) 20,076,500 Pre-Funded Warrants to investors in the PIPE Financing in accordance with the terms and subject to the conditions of the Subscription Agreement. Aadi plans to use
the proceeds from the PIPE Financing to support the additional non-refundable, upfront payment of $38 million due within ninety (90) days after the effective date of the License Agreement
and for future preclinical and clinical development of the ADC Programs. The aggregate number of shares of Aadi’s common stock or other securities convertible into or exercisable for common stock that Aadi will issue in connection with the PIPE
Financing will exceed 20% of both the voting power and the number of shares of Aadi’s common stock outstanding before such issuance.

We are seeking
the approval of Aadi stockholders for the PIPE Financing because Nasdaq may consider the in-license of the ADC Programs pursuant to the License Agreement to constitute the acquisition of the stock or assets of
another company for purposes of Nasdaq Listing Rule 5635(a)(1), which is highly fact-specific, and also because Aadi’s board of directors considered such action appropriate and strongly desires the input of Aadi stockholders in light of the
financial significance of the License Agreement, the ADC Programs and the related PIPE Financing.

Reasons for the PIPE Financing and License Agreement

Aadi believes that entry into the License Agreement provides an opportunity to strengthen its pipeline of development assets and,
together with the PIPE Financing, strengthen its capital resources, positioning it to become a leading oncology-focused biotechnology company focused on developing novel treatments utilizing

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the next wave of antibody-drug conjugate (ADC) therapies. Following the Divestiture, Aadi plans to focus primarily on advancing the ADC Programs designed for a broad range of cancerous diseases,
including treatment of solid tumors, including non-small cell lung cancer (NSCLC), platinum resistant ovarian cancer (PROC) and triple negative breast cancer (TNBC).

The net proceeds from the PIPE Financing are expected to be used to fund payments due under the License Agreement and advance Aadi’s development
pipeline, business development