Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 195

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 195
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 the in-license of the ADC Programs pursuant to the License Agreement to constitute the acquisition of the stock or assets of
another company for purposes of Nasdaq Listing Rule 5635(a)(1), which is highly fact-specific, and also because Aadi’s board of directors considered such action appropriate and strongly desires the input of Aadi stockholders in light of the
financial significance of the License Agreement, the ADC Programs and the related PIPE Financing.

Reasons for the PIPE Financing and License Agreement

Aadi believes that entry into the License Agreement provides an opportunity to strengthen its pipeline of development assets and,
together with the PIPE Financing, strengthen its capital resources, positioning it to become a leading oncology-focused biotechnology company focused on developing novel treatments utilizing

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the next wave of antibody-drug conjugate (ADC) therapies. Following the Divestiture, Aadi plans to focus primarily on advancing the ADC Programs designed for a broad range of cancerous diseases,
including treatment of solid tumors, including non-small cell lung cancer (NSCLC), platinum resistant ovarian cancer (PROC) and triple negative breast cancer (TNBC).

The net proceeds from the PIPE Financing are expected to be used 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.

For a discussion of Aadi’s reasons for the PIPE Financing and the
License Agreement, please see the sections titled “The PIPE Financing and License Agreement—Reasons for the PIPE Financing and the License Agreement and Recommendation of the Aadi Board of Directors” beginning on
page [●] of this proxy statement and “The ADC Programs” beginning on page [●] of this proxy statement.

Consequences if the PIPE Financing is Not Approved

If, for any reason, the PIPE Financing is not consummated, Aadi will not complete the issuance of common stock and
Pre-Funded Warrants pursuant to the Subscription Agreement and Aadi’s board of directors will be required to assess whether to pay the balance of the upfront license fee payment ($38 million) to WuXi Biologics under the License Agreement
by the applicable deadline with Aadi’s then-available liquidity, or otherwise to allow the License Agreement to terminate in accordance with its terms.

Required Vote

The approval of the PIPE Financing