Company: DAWN
Filing Date: 2025-11-13
Form Type: SC TO-C
Source: 0001104659-25-110815
Chunk: 5

Company: Day One Biopharmaceuticals, Inc.
Filing Date: 2025-11-13
Form: SC TO-C
Chunk 5
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 either party to terminate for failure to consummate the Offer on
or before May 12, 2026. If the Merger Agreement is terminated under certain circumstances specified in the Merger Agreement, the Target
will be required to pay Parent a termination fee of $5.6 million (including under specified circumstances in connection with the Target’s
entry into an agreement with respect to a Superior Proposal or the Target Board’s change of recommendation in favor of the Offer).
The parties to the Merger Agreement are also entitled to specifically enforce the terms and provisions of the Merger Agreement.

Each of the board of directors of Parent and Merger Sub approved the
Merger Agreement, the CVR Agreement and the transactions contemplated thereby, and declared it advisable for Parent and Merger Sub, respectively,
to enter into the Merger Agreement and the CVR Agreement. In addition, the Target Board unanimously: (i) determined that the Merger Agreement,
the Offer, the Merger and the other transactions contemplated by the Merger Agreement, are advisable and fair to, and in the best interests
of the Target and its stockholders; (ii) agreed that the Merger shall be subject to Section 251(h) of the DGCL; (iii) approved the execution,
delivery and performance by the Target of Merger Agreement and the consummation of the Offer, the Merger and the other transactions contemplated
by the Merger Agreement and approved the CVR Agreement and the transactions contemplated thereby; and (iv) resolved to recommend that
the stockholders of the Target accept the Offer and tender their Target Shares to Merger Sub pursuant to the Offer.

The foregoing summary of the principal terms of the Merger Agreement
does not purport to be complete and is qualified in its entirety by reference to the full copy of the Merger Agreement, which is filed
as Exhibit 2.1 hereto and is incorporated herein by reference. The summary and the copy of the Merger Agreement are intended to provide
information regarding the terms of the Merger Agreement and are not intended to modify or supplement any factual disclosures about the
Target, Parent or Merger Sub in any public reports filed with the U.S. Securities and Exchange Commission (the “SEC”) by the
Target or Parent. The assertions embodied in the representations and warranties included in the Merger Agreement were made solely for
purposes of the contract among the Target, Merger Sub and Parent and are subject to important qualifications and limitations agreed to
by the Target, Merger Sub