Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 74

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 74
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 stockholder value.

On August 21, 2024, Aadi’s board of
directors held a virtual meeting to discuss Aadi’s strategic process, with Aadi’s management team and representatives of Leerink Partners and Wilson Sonsini Goodrich and Rosati P.C. (“Wilson Sonsini”), Aadi’s outside legal
counsel, in attendance. At the meeting, representatives of Leerink Partners provided an update regarding the results of its informal outreach efforts in respect of a potential transaction involving FYARRO, potential interested parties and levels of
interest, and the status of management meetings and due diligence activities. Aadi’s board of directors discussed the details and timing of a formal sale process and the contents of a formal process letter that would be delivered to
counterparties, and representatives of Wilson Sonsini summarized the fiduciary duties of Aadi’s board of directors related to such process. Following discussion, Aadi’s board of directors authorized Leerink Partners, on behalf of Aadi, to
initiate a formal process to sell FYARRO and to distribute a process letter to potential counterparties. In an effort to retain flexibility and maximize potential value to Aadi stockholders, Aadi determined that any outreach process would not be
proscriptive as to the precise form of transaction structure pursuant to which FYARRO might be acquired: an asset or subsidiary divestiture, a sale of the whole company (i.e., a transaction under which all of the equity of Aadi (the Nasdaq-listed
public company) would be sold), or otherwise.

On August 21, 2024, representatives of Bidder C contacted representatives of Leerink Partners to
convey initial interest in the FYARRO commercial business and to schedule a management meeting.

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On August 22, 2024, representatives of Aadi and Bidder D met via videoconference to discuss the FYARRO
commercial business and Bidder D’s questions arising from its due diligence review. On that same day, representatives of Aadi and Bidder A met via videoconference to discuss the FYARRO commercial business and Bidder A’s interest in
proceeding with a potential acquisition of the FYARRO commercial business.

On August 22, 2024, at the direction of Aadi, representatives of Leerink
Partners sent a process letter on behalf of Aadi to nine companies (all of which had either attended a management presentation or were in the process of scheduling one), seeking preliminary,