Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 84

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 84
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 which it was proposed that Aadi agree to exclusivity through December 6, 2024.

On November 8, 2024, after consulting with
members of Aadi’s management team, representatives of Leerink Partners informed representatives of Bidder B via telephone that, given the competitive process, Aadi was not in position to consider an exclusivity request from Bidder B without a
significant improvement in the offer and removal of certain closing conditions.

On November 12, 2024, representatives of Leerink Partners, Nomura,
Wilson Sonsini, and McDermott met via videoconference to discuss the Kaken October 17 Proposal and related transaction structure, particularly whether Kaken would consider acquiring the FYARRO business by purchasing Aadi Sub.

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On November 13, 2024, at the direction of Aadi, representatives of Leerink Partners sent a draft stock
purchase agreement (“Divestiture Agreement”) to representatives of Nomura, under which Kaken would acquire the FYARRO business by purchasing Aadi Sub. On that same day, representatives of Leerink Partners and Nomura met via videoconference
in advance of the upcoming in-person site visit by representatives of Kaken Parent to Aadi’s New Jersey and California facilities.

On November 14, 2024, representatives of Bidder B contacted representatives of Leerink Partners to withdraw the previously delivered exclusivity request,
noting that Bidder B was not at that time prepared to improve its offer.

On November 14, 2024, representatives of Nomura met in-person with representatives of Aadi’s management team and Leerink Partners at Aadi’s New Jersey facilities.

On November 15, 2024, representatives of Kaken Parent and Nomura met in-person with representatives of Aadi’s

management team and Leerink Partners at Aadi’s California facilities.

On November 20, 2024, at the direction of Aadi, representatives of Leerink Partners shared a revised draft of the Bidder B APA with representatives of
Bidder B. Among other things, the revised draft proposed a termination fee of 2.75% that Aadi would be liable to pay in specified circumstances, an aggregate equity commitment equal to the full transaction consideration, and the removal of the
concurrent closing of the debt financing as a prerequisite to Aadi’s right of specific performance. The draft also substantially revised Bidder B’s proposed closing conditions requiring amendments and negotiations of third party agreements
to ensure a high certainty of closing