Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 151

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 151
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 and discussed, among other things, steps to ensure appropriate
oversight of Aadi’s board of directors of the due diligence process in respect of the ADC Programs. Aadi’s board of directors also deliberated regarding the PIPE Financing, including with respect to Aadi’s anticipated capital needs if
the transactions contemplated by the License Agreement were consummated, the size of the PIPE Financing, and potential investment banking support for the PIPE Financing. Aadi’s management team also provided a detailed analysis regarding various
dissolution scenarios prepared by Aadi, noting key assumptions, estimated valuation ranges for each scenario, and timing and process considerations related to a potential dissolution and liquidation of Aadi.

On October 9 and October 15, 2024, Aadi’s management team held due diligence sessions with members of Aadi’s board of directors regarding
the ADC Programs. Among other things, the management team and directors discussed the CPT113 linker-payload system developed by Hangzhou DAC, CMC and operational plans, clinical development timelines, the potential therapeutic index for each of the
ADC Programs, intellectual property due diligence, competitive positioning for the ADC Programs, and the investment thesis for the ADC Programs and related risks.

On October 18, 2024, representatives of WuXi Biologics shared with representatives of Aadi a revised draft of the License Agreement.

On October 25, 2024, Aadi’s board of directors held a virtual meeting with Aadi’s management and representatives of Leerink Partners and Wilson
Sonsini at which Aadi’s management presented regarding the License Agreement and the ADC Programs. Among other things, Aadi’s management discussed open due diligence items and next steps, upcoming detailed due diligence sessions for
directors, the status of intellectual property due diligence, Aadi’s upcoming onsite CMC due diligence visit in China, recent regulatory developments, the status of License Agreement negotiations, and proposals for the engagement of investment
banking firms to assist with the PIPE Financing. Aadi’s board of directors deliberated regarding these matters as well as, among other things, the need for rigorous due diligence on the ADC Programs and director visibility related thereto,
director attendance at the upcoming information sessions, and further analysis to be requested of the management team regarding due diligence of the ADC Programs. Aadi’s board of directors also discussed a potential new director candidate
(Dr. Baiteng Zhao) and the status of Aadi’s ongoing search for new CSO and CMO candidates.

On October 31,