Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 15

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 15
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 pay to Kaken a termination fee of $3.5 million. See the
section entitled “The Divestiture Agreement—Termination Fees and Remedies” beginning on page [●] of this proxy statement for a discussion of the circumstances under which such a termination fee may be required to
be paid.

What is the PIPE Financing?

On
December 19, 2024, concurrently with the execution of the Divestiture Agreement and License Agreement, Aadi entered into the Subscription Agreement with the PIPE Investors, pursuant to which Aadi agreed to issue and sell to the PIPE Investors,
subject to the terms and conditions of the Subscription Agreement, (i) 21,592,000 shares of Aadi’s common stock, at a purchase price of $2.40 per share, and (ii) Pre-Funded Warrants to acquire 20,076,500 shares of Aadi’s common stock,
at a purchase price of $2.3999 per share. Aadi expects to receive aggregate gross proceeds from the PIPE Financing of approximately $100 million, before deducting estimated offering expenses payable by Aadi.

The net proceeds from the PIPE Financing are expected to be used to fund payments due under the License Agreement and advance the ADC Programs, 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.

Under the terms of the Subscription Agreement, the PIPE Financing
will close on a date that is no later than five business days from the date of stockholder approval of the PIPE Financing Proposal, unless otherwise agreed between Aadi and Jefferies LLC, Aadi’s exclusive placement agent for the PIPE Financing.
For more detail on the PIPE Financing and related agreements, see the section titled “The PIPE Financing and License Agreement— PIPE Financing and Subscription Agreement”beginning on page [●] of this proxy
statement.

Why am I being asked to vote on the PIPE Financing?

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