Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 16

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 16
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upon issuance, voting power equal to or in excess of 20% of the voting power outstanding before the issuance of such securities, or (ii) the number of shares of common stock to be issued is or will be equal to or in excess of 20% of the number
of shares of common stock outstanding before the issuance of such securities.

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In connection with the closing of the PIPE Financing, we expect to issue, other than in a public offering,
an aggregate of (i) 21,592,000 shares of our common stock and (ii) 20,076,500 Pre-Funded Warrants to investors in the PIPE Financing in accordance with the terms and subject to the conditions of the Subscription Agreement. We plan to use
the proceeds from the PIPE Financing to support the additional non-refundable, upfront payment of $38 million due within ninety (90) days after the effective date of the License Agreement and for future preclinical and clinical development of the
ADC Programs. The aggregate number of shares of our common stock or other securities convertible into or exercisable for common stock that Aadi will issue in connection with the PIPE Financing will exceed 20% of both the voting power and the number
of shares of Aadi’s common stock outstanding before such issuance.

We are seeking the approval of Aadi stockholders for the PIPE Financing because
Nasdaq may consider the in-license of the ADC Programs pursuant to the License Agreement to constitute the acquisition of the stock or assets of another company for purposes of Nasdaq Listing Rule 5635(a)(1), which is highly fact-specific, and also
because Aadi’s board of directors considered such action appropriate and strongly desires the input of Aadi stockholders in light of the financial significance of the License Agreement, the ADC Programs and the related PIPE Financing.

Why is our board of directors recommending the PIPE Financing?

Aadi’s board of directors believes that the PIPE Financing, including the Subscription Agreement, the Registration Rights Agreement and the Pre-Funded
Warrant, and all the transactions contemplated thereby, are fair to, advisable and in the best interests of, Aadi and its stockholders. Aadi’s board of directors unanimously recommends that you vote “FOR” the approval of the PIPE
Financing Proposal. To review the Aadi board of directors’ reasons for recommending the PIPE Financing, see the section entitled “The PIPE Financing and License Agreement—Reasons for the PIPE Financing and the License Agreement and Recommendation of the Aadi Board of Directors” beginning on