Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 1

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 1
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 (“Aadi Sub”) and thereby all or substantially all of Aadi’s assets related to its FYARRO® (sirolimus                                                                          
 protein-bound particles for injectable suspension) (albumin-bound) program (the “FYARRO Business”), pursuant to the terms of that certain stock purchase agreement, dated as of December 19, 2024, among Aadi, Kaken, KAKEN PHARMACEUTICAL CO.,   
 LTD, Kaken’s parent company and guarantor (“Kaken Parent”) and Aadi Sub (as may be amended from time to time, the “Divestiture Agreement”), which may be deemed to be a sale of substantially all of Aadi’s assets under                          
 Section 271 of the Delaware General Corporation Law, as amended (the “DGCL”) and to approve the Divestiture Agreement (such proposal, the “Divestiture Proposal”). We are seeking the approval of Aadi stockholders for the sale                  
 of the FYARRO Business (the “Divestiture”) because the question of whether the Divestiture constitutes the sale of substantially all of the assets of Aadi under the DGCL is highly fact-specific, and because Aadi’s board of directors          
 considered the action appropriate and strongly desire the input of Aadi stockholders, given the financial significance of the FYARRO Business. Under the terms and subject to the conditions of the Divestiture Agreement, Kaken will pay Aadi    
 $100 million in cash at closing, subject to certain adjustments. The transaction is expected to close in the first half of 2025, subject to Aadi stockholder approval and certain closing conditions. Upon the closing of this transaction, Kaken 
 will also acquire the rights to the Aadi name and trademark.                                                                                                                                                                                      |

| 2. | The PIPE Financing Proposal. To approve, for purposes of complying with the applicable provisions of                                                                                                        
 Nasdaq Listing Rule 5635, the issuance of an aggregate of 21,592,000 shares of Aadi’s common stock, par value $0.0001 per share, at a price of $2.40 per share and pre-funded warrants to purchase up to an 
 aggregate of 20,076,500 shares of Aadi’s common stock at a purchase price of $2.3999 per pre-funded warrant (the “PIPE Financing Proposal”). Aadi agreed to sell the shares of Aadi’s common                
 stock and pre-funded warrants to support entry into an Intellectual Property License Agreement (the “License Agreement