Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 165

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 165
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 the potential long-term value proposition of the ADC Programs is not ultimately realized;                    |

| • |     | anticipated dilution to Aadi’s current stockholders as a result of the PIPE Financing; |

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| • |     | the potential interests of Aadi’s officers and directors in the PIPE Financing and the License Agreement 
 that may be different from, or in addition to, the interests of stockholders generally; and              |

| • |     | the risk of negative stockholder reaction and/or litigation in connection with the PIPE Financing. |

The foregoing discussion of the factors considered by Aadi’s board of directors is not intended to be exhaustive, but does set forth the material factors considered by Aadi’s board of directors. Aadi’s board of directors reached the unanimous conclusion to approve the PIPE Financing in light of the various factors described above and other factors that each member of Aadi’s board of directors felt were appropriate. In view of the wide variety of factors considered by Aadi’s board of directors in connection with its evaluation of the PIPE Financing and the complexity of these matters, Aadi’s board of directors did not consider it practical, and did not attempt to quantify, rank or otherwise assign relative weights to the specific factors it considered in reaching its decision and did not undertake to make any specific determination as to whether any particular factor, or any aspect of any particular factor, was favorable or unfavorable to the ultimate determination of Aadi’s board of directors. Rather, the recommendation of Aadi’s board of directors was based on the totality of information presented to it and the investigation conducted by it. In considering the factors discussed above, individual directors may have given different weights to different factors. PIPE Financing and Subscription Agreement On December 19, 2024, Aadi entered into the Subscription Agreement with each of the PIPE Investors, pursuant to which Aadi agreed to sell to the PIPE Investors (i) 21,592,000 shares of Aadi’s common stock, par value $0.0001 per share, at a purchase price of $2.40 per share, and (ii) 20,076,500 Pre-Funded Warrants toacquire shares of Aadi’s common stock, at a purchase price of $2.3999 per share, for an aggregate purchase price of $100 million. The Pre-Funded Warrantswill have an exercise price of $0.0001 per share of common stock, be immediately exercisable, and remain exercisable until exercised in full. The holders of