Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 88

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 88
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 any
increase to the base purchase price.

On December 13, 2024, representatives of Wilson Sonsini, Leerink Partners and Aadi management met to discuss
the “package” proposal received from McDermott to resolve outstanding issues under the Divestiture Agreement related to indemnification and the escrow fund, and Aadi determined such terms would be acceptable if the size of the escrow fund
were reduced to $5 million. Following such discussion, representatives of Wilson Sonsini relayed such determination to McDermott.

On December 13,
2024, representatives of Aadi’s management team further discussed with representatives of Bidder B matters related to Bidder B’s proposed closing conditions requiring amendments and negotiations of third party agreements.

On December 14, 2024, representatives of McDermott shared with representatives of Wilson Sonsini a draft of the escrow agreement.

On December 15, 2024, representatives of McDermott delivered to representatives of Wilson Sonsini a revised draft of the Divestiture Agreement. Among
other things, the revised draft of the Divestiture Agreement proposed a termination fee equal to $4.5 million, and an escrow fund equal to $6.375 million. The revised draft also contemplated that Kaken would procure a RWI policy.

On December 16, 2024, representatives of Leerink Partners, Nomura, Wilson Sonsini and McDermott met via videoconference to discuss open issues regarding
the Divestiture Agreement and related process and timing. The parties also discussed the Support Agreements and potential signatories.

On
December 16, 2024, Dr. Lennon and the Bidder B CEO held a telephone call to discuss the Bidder B APA and related status and timing. On the call, Dr. Lennon explained that Aadi was close to announcing a deal with another bidder and
that Bidder B was running out of time to improve its proposal and reconsider the closing conditions. On that same day, representatives of Leerink Partners delivered a similar message to other Bidder B representatives.

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On December 17, 2024, representatives of Wilson Sonsini provided to representatives of McDermott a revised draft of the Divestiture Agreement. Among other things, the revised draft of the Divestiture Agreement proposed a termination fee equal to $3 million, and provided that Kaken Parent either be a party to the Divestiture Agreement or provide a guarantee of its subsidiary’s obligations thereunder. On that same day,