Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 194

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 194
---
 to fund payments due under the
License Agreement and advance Aadi’s development pipeline, business development activities, working capital and other general corporate purposes. Aadi believes the total cash and cash equivalents of Aadi following the closing of the Divestiture
and PIPE Financing will enable the potential attainment of key clinical and development milestones for the ADC Programs.

The PIPE Financing is expected
to close within five business days from receipt of approval of this Proposal No. 2 by Aadi stockholders at the Special Meeting, subject to the satisfaction of certain other closing conditions.

Stockholder Approval Requirement for Purposes of Nasdaq Listing Rule 5635

Nasdaq Listing Rule 5635(a)(1)

Pursuant to Nasdaq Listing
Rule 5635(a)(1), a company listed on Nasdaq is required to obtain stockholder approval prior to the issuance of common stock or other securities convertible into or exercisable for common stock, in connection with the acquisition of the stock or
assets of another company, if such securities are not issued in a public offering and (i) the common stock has, or will have 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.

In connection with the closing of the PIPE Financing, Aadi expects to issue, other than in a public offering, an aggregate of (i) 21,592,000 shares of
Aadi’s 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. Aadi plans 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 Aadi’s 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