Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 149

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 149
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 Agreement and License Agreement, which are attached as Annex D and Annex G, respectively, to this proxy statement. This summary does not purport to be complete and may not contain all of the information about the PIPE Financing or the License Agreement that may be important to you. You are encouraged to read each of the Subscription Agreement and the License Agreement carefully and in its entirety.

Background of the PIPE Financing and the License Agreement

In an effort to enhance stockholder value, Aadi’s board of directors and management regularly review and
discuss Aadi’s near and long-term operating and strategic priorities. Among other things, these reviews and discussions focus on the opportunities and risks associated with Aadi’s commercial product, development programs, financial
condition and its strategic relationships and potential long-term strategic options.

On March 14, 2024, in consideration of the risks and
uncertainties relating to the PRECISION1 trial (which is described in further detail under “Background of the Divestiture” in the Divestiture Proposal), Aadi’s board of directors and management determined to accelerate the evaluation
of strategic opportunities separate from FYARRO, including the potential acquisition and/or in-licensing of new drug development programs, with a focus on clinical or near-clinical oncology assets.

On March 22, 2024, our board of directors formed an independent Strategic Transaction Committee consisting of Behzad Aghazadeh, the Managing Partner and
Portfolio Manager of Avoro Capital Advisors LLC, Caley Castelein, the Founder and Managing Director of KVP Capital and the Chairman of Aadi’s board of directors, and Anupam Dalal, the Chief Investment Officer at Acuta Capital Partners LLC, to
oversee and guide the strategic transaction process and work with the management team with respect thereto. The committee members were selected based on their knowledge of, and experience with, strategic transactions, experience in evaluating the
prospects and relative value of potential strategic partners, operational and executive experience relative to the required diligence of potential strategic partners, diversity of professional experience, and ability to meet the time commitments of
service on such committee. Aadi’s board of directors delegated to the Strategic Transaction Committee the primary authority to review and evaluate proposals for potential acquisition and in-licensing
opportunities and similar strategic opportunities, to review and evaluate the prospects for strategic partners, to interface with Aadi’s advisers and management team, and to act on behalf of Aadi’s board of directors in facilitating the
review,