Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 41

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 41
---
 Giacobello and Mr. Ball will continue to serve as executive officers of Aadi following the Divestiture and
that all members of Aadi’s board of directors will continue to serve thereon following the Divestiture, and that such officers and directors will continue to receive cash and other compensation (including benefits) for such services under
applicable plans and arrangements which may be funded with proceeds from the Divestiture.

Accounting Treatment(see page [●])

The Divestiture will be accounted for as a “sale” by Aadi, as that term is used under generally accepted accounting principles, for accounting
and financial reporting purposes.

- 27 -

Material U.S. Federal Income Tax Consequences of the Divestiture(see page [●])

The proposed Divestiture is entirely a corporate action. Our stockholders will not realize any gain or loss for U.S. federal income tax purposes as a result of
the Divestiture.

The proposed Divestiture will be treated as a sale of corporate stock in exchange for cash. We anticipate that our tax basis in our Aadi
Sub stock will not be less than the purchase price for the sale of the FYARRO Business, and accordingly, that we do not expect to realize gain on the sale of our Aadi Sub stock. Nevertheless, the determination of whether we will realize gain or loss
on the proposed Divestiture and (if applicable) whether and to what extent our tax attributes will be available to offset any gain is highly complex and is based in part upon facts that will not be known until the completion of the Divestiture and
the finalization of any purchase price adjustments associated with the Divestiture. Therefore, it is possible that we will incur U.S. federal income tax as a result of the proposed Divestiture.

We also expect that the portion of our consolidated net operating loss carryforwards (“NOLs”) and other tax attributes that are allocable to Aadi
Sub will generally remain with Aadi Sub and will no longer constitute tax attributes of Aadi following the Divestiture.

Appraisal Rights
(see page [●])

No appraisal or dissenters’ rights are available to Aadi stockholders under the DGCL or under Aadi’s certificate of
incoporation or bylaws in connection with the Divestiture Agreement.

Summary of the PIPE Financing and the License Agreement

The PIPE Financing and Subscription Agreement (see page [●])

On December 19, 2024, Aadi entered into the