Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 80

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 80
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 it was a late entrant. On October 7, 2024, at the direction of Aadi, representatives of Leerink Partners shared the first-round process letter with
representatives of Nomura.

On October 8, 2024, following a request for feedback on Bidder C’s most recent proposal, representatives of Leerink
Partners informed representatives of Bidder C’s financial advisor that Bidder C must improve the upfront consideration in its revised non-binding indication of interest to be competitive.

On October 9, 2024, representatives of Aadi, Bidder B and Leerink Partners met via videoconference to discuss Bidder B’s due diligence questions and
requests, as well as certain proposed closing conditions for the definitive agreement.

On October 10, 2024, at the direction of Aadi,
representatives of Leerink Partners distributed a second-round process letter to active bidders, requesting updated non-binding indications of interest by October 15, 2024. On that same day, at the
direction of Aadi, representatives of Leerink Partners shared with Bidder B an updated draft of what had been a stock purchase agreement, but which had been revised to reflect the asset purchase structure proposed by Bidder B (the “Bidder B
APA”).

On October 17, 2024, representatives of Aadi, Bidder B and Leerink Partners met via videoconference to discuss Bidder B’s due
diligence questions.

On October 17, 2024, representatives of Nomura, on behalf of Kaken Parent, submitted to representatives of Leerink Partners a non-binding indication of interest to acquire all of the outstanding shares of Aadi on a fully-diluted basis for $80.0 million, on a cash-free, debt-free basis, representing an implied premium of 145% over the
closing price of $2.13 as of October 15, 2024 (the “Kaken October 17 Proposal”).

On October 18, 2024, representatives of Leerink
Partners informed representatives of Bidder B’s financial advisor that a competitive bid had been received by another party. On October 22, 2024, representatives of Leerink Partners and Bidder B’s financial advisor met via
videoconference to further discuss whether, in light of such development, Bidder B would be interested in improving its bid.

On October 22, 2024,
representatives of Bidder B sent to representatives of Leerink Partners a