Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 143

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 143
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 period commencing on the date of the closing of the Divestiture and ending
on the three year anniversary thereof, research, develop, manufacture, commercialize or otherwise exploit another therapeutic product intended for the treatment of PEComa in any country or territory where the FYARRO Business has been or is currently
proposed to be conducted by Aadi and all of Aadi’s controlled affiliates.

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THE PIPE FINANCING AND LICENSE AGREEMENT

The following is a discussion of the PIPE Financing and the License Agreement. The description of the Subscription Agreement (with respect to the PIPE Financing) and the License Agreement in this section and elsewhere in this proxy statement is qualified in its entirety by reference to the complete text of the Subscription 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