Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 78

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 78
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’s outside legal
counsel met via videoconference to discuss legal and tax due diligence questions, and discussed the optimal structure of a transaction for each party. During the week of September 23, 2024, representatives of Aadi and Bidder B held several
additional videoconference meetings to discuss technical, corporate, tax and legal due diligence questions.

On September 23, 2024, representatives
of Leerink Partners and Bidder C met via videoconference to discuss certain due diligence questions to which Bidder C required answers before it could submit a revised proposal. Over the following week, Aadi’s management team and
representatives of Leerink Partners responded to such questions.

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On September 25, 2024, certain of Aadi’s directors and management team members met via
videoconference to discuss and consider the non-binding indications of interest received to date, including the non-binding indication of interest from Bidder G which
was determined not to be competitive due to the relatively small cash payment at closing and milestone payments that were uncertain and out of Aadi’s control. Following discussion, at the direction of Aadi’s board of directors,
representatives of Aadi’s management team and Leerink Partners contacted representatives of Bidder A, Bidder E, and Bidder G with feedback stating that Aadi’s board of directors viewed their respective proposals as insufficient to advance
to the next round, but might reconsider following receipt of a new proposal.

On September 27, 2024, representatives of Aadi, Leerink Partners and
Bidder B met via videoconference to discuss Bidder B’s commercial due diligence questions. On the same day, at the direction of Aadi, representatives of Leerink Partners shared with representatives of Bidder B a draft stock purchase agreement
which contained a proposed transaction structure under which Bidder B would acquire the FYARRO assets by purchasing all of the outstanding equity of Aadi Sub and pursuant to which Aadi would not provide post-closing indemnification with respect to
the operations of Aadi Sub.

On October 1, 2024, representatives of Aadi, Leerink Partners and Bidder B met via videoconference to discuss Bidder
B’s regulatory due diligence questions.

On October 2, 2024, representatives of Bidder B informed representatives of Leerink Partners of their
preference to structure the proposed acquisition of FYARRO as an asset purchase instead of a purchase of all of the outstanding equity of Aadi Sub, which purchase would entail