Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 159

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 159
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 regarding the same; and the anticipated pricing of the PIPE Financing relative to the estimated per share liquidation value. Following discussion, Aadi’s board of directors approved moving forward with the PIPE
Financing and the engagement of Jefferies to serve as Aadi’s financial advisor for the PIPE Financing on the terms presented.

On that same day,
representatives of Aadi delivered a revised draft of the License Agreement to representatives of WuXi Biologics. Among other things, the revised draft proposed that $3.0 million of the $42.0 million upfront license fee payment be paid a
number of days to be determined after execution of the License Agreement, and that the remaining $39.0 million of the upfront license fee payment be due no later than a number of days to be determined after Aadi obtains the required stockholder
approval for the PIPE Financing. The revised draft also provided that the licenses under the License Agreement would generally only become effective upon payment of the full upfront license fee payment and that either party could terminate the
License Agreement after 180 days if Aadi did not receive the required stockholder vote for the PIPE Financing.

On November 14, 2024, representatives
of WuXi Biologics communicated to representatives of Aadi that the proposed timing adjustments for the upfront license fee payment and effectiveness of the License Agreement

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were not acceptable and reiterated its preference to receive the full upfront license fee payment upon signing the License Agreement.

On November 18, 2024, Aadi entered into a second amendment to the mutual confidentiality agreement with WuXi Biologics and Hangzhou DAC which expanded
the range of persons allowed to see confidential information to include bona fide candidates for senior management at Aadi.

On November 19, 2024,
Aadi engaged Jefferies to serve as its exclusive financial advisor in connection with the PIPE Financing. On that same day, Jefferies commenced wall-crossing prospective investors for the PIPE Financing, targeting sophisticated, biotech-focused
investors (including some of Aadi’s existing stockholders as well as new prospective investors), who Jefferies, in consultation with representatives of Aadi, determined were the most likely investors to be interested, given the preclinical
stage of the ADC Programs to be funded by the PIPE Financing, and coordinated with Aadi to provide such investors with data room access. On November 20, 2024, representatives of Aadi management and Jefferies commenced videoconference meetings
with prospective investors for the PIPE Financing