Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 75

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 75
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 non-binding
indications of interest for a potential transaction. The process letter instructed that all such indications of interest be submitted by September 11, 2024. Between August 26, 2024, and October 2, 2024, at the direction of Aadi,
representatives of Leerink Partners sent process letters to an additional five interested parties.

On August 26, 2024, representatives of Leerink
Partners and Bidder G met via videoconference to discuss Bidder G’s interest in the FYARRO commercial business.

On August 28, August 29
and September 3, 2024, Bidder E, Bidder A and Bidder G, respectively, signed nondisclosure agreements with Aadi and received virtual data room access. Over the next few weeks, such parties conducted commercial and scientific due diligence on
the FYARRO commercial business.

On September 4, 2024, representatives of Aadi and Bidder C met via videoconference to discuss the FYARRO commercial
business and Bidder C’s initial due diligence questions.

On that same day, representatives of Aadi and Bidder E met via videoconference to discuss
the FYARRO commercial business and Bidder E’s initial due diligence questions.

On September 5, 2024, representatives of Aadi and Bidder G met
via videoconference to discuss the FYARRO commercial business and Bidder G’s initial due diligence questions.

On September 9, 2024, Bidder A
submitted a non-binding indication of interest to acquire Aadi, in a transaction structured as a sale of the whole company, at a valuation of approximately $2.20 per share on a fully diluted basis, an implied
premium of 20% over Aadi’s closing price on September 6, 2024 ($1.83).

On September 11, 2024, Bidder B submitted a non-binding indication of interest to acquire the FYARRO assets for cash consideration at closing of $80 million, on a cash-free, debt-free basis (the “Bidder B September 11 Proposal”). Bidder B
planned to finance the transaction with a combination of cash on hand, new equity from Bidder B’s private equity sponsor, and debt from existing lenders with whom Bidder B and its private equity sponsor have longstanding relationships.

On that same day, Bidder C submitted a non-binding indication of interest to exclusively license the FYARRO assets for
the PEComa