Company: DAWN
Filing Date: 2025-11-13
Form Type: SC TO-C
Source: 0001104659-25-110815
Chunk: 3

Company: Day One Biopharmaceuticals, Inc.
Filing Date: 2025-11-13
Form: SC TO-C
Chunk 3
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 to the HSR Act with respect to the Offer and the Merger as promptly as practicable and
in any event within 20 business days after the date of the Merger Agreement, and to use its reasonable best efforts to take all other
actions necessary to cause the expiration or termination of the applicable waiting periods under the HSR Act as soon as practicable and
in any event not later than May 12, 2026.

The Merger Agreement provides for the following treatment of the Target’s
stock options and restricted stock unit awards:

| · | Effective immediately prior to the Effective Time, each option to purchase shares of Target Common Stock that is outstanding and unexercised 
 as of immediately prior to the Effective Time and has an exercise price that is less than the Upfront Consideration (a “Cash-Out             
 Option”), shall become fully vested and shall automatically be cancelled and converted into the right to receive, without interest           
 and subject to deduction for any required tax withholding, (i) the Merger Consideration minus (ii) the exercise price payable per share      
 of Target Common Stock underlying such Cash-Out Option, subject to the terms and conditions specified in the Merger Agreement;               |

| · | Effective as of 10 business days prior to the closing of the Merger, or such other date occurring prior to the closing of the Merger       
 as may be determined by the board of directors of the Target (the “Target Board”) in its discretion (the “Acceleration                     
 Date”), each option to purchase Target Shares then outstanding and unexercised that has an exercise price that is equal to or greater      
 than the Upfront Consideration (an “Out-of-the-Money Option”), shall become fully vested and exercisable up to and through                 
 the closing of regular trading on the Nasdaq Stock Market on the fifth business day following the Acceleration Date (the “Last Exercise    
 Date”) in accordance with the terms and conditions of such Out-of-the-Money Option, and if not exercised on or prior to the closing        
 of regular trading on the Last Exercise Date, such Out-of-the-Money Option shall be cancelled and cease to exist as of the Effective Time, 
 and no consideration shall be delivered in exchange for such Out-of-the-Money Option; and                                                  |

| · | As of immediately prior to the Effective Time, each Target restricted stock unit award that is then outstanding (whether vested or       
 unvested) shall automatically be cancelled and converted into the right to receive, without interest and subject to