Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 93

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 93
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 a.m. Eastern time on December 21, 2024. Aadi and Kaken Parent entered into an exclusivity agreement on such terms later that day. From December 18, 2024 to December 19, 2024, representatives of Wilson Sonsini and McDermott negotiated and finalized the Divestiture Agreement (including the seller disclosure letter and the Pre-ClosingRestructuring Schedule), the Support Agreement, and the Restrictive Covenant Agreements. In addition to the removal of the escrow account, the final draft of the Divestiture Agreement provided for a termination fee equal to $3.5 million, representing 3.5% of the $100 million base purchase price. - 59 -

On that same day, representatives of McDermott informed representatives of Wilson Sonsini that Kaken’s
board of directors had approved the Kaken December 18 Proposal, the Divestiture Agreement, and related matters.

On December 19, 2024,
Aadi’s board of directors held a virtual meeting, with representatives of Aadi’s management team, Leerink Partners and Wilson Sonsini in attendance. During the meeting, representatives of Leerink Partners reviewed with Aadi’s board of
directors its financial analysis with respect to the proposed financial terms of the Divestiture. Following discussion with the directors, representatives of Leerink Partners then rendered to Aadi’s board of directors its oral opinion, which
was subsequently confirmed by delivery of a written opinion dated December 19, 2024, that, as of such date and based upon and subject to various assumptions, qualifications and limitations set forth therein, the consideration proposed to be
paid to Aadi pursuant to the Divestiture Agreement was fair, from a financial point of view, to Aadi. Representatives of Wilson Sonsini then made a legal presentation to Aadi’s board of directors and, among other things, reviewed the fiduciary
duties of Aadi’s board of directors under Delaware law with respect to the Divestiture Agreement and related transactions. Aadi’s board of directors further discussed various considerations with respect to the proposed transaction, as
summarized under “Reasons for the Divestiture and Recommendation of the Aadi Board of Directors.” Following discussion and the presentations, Aadi’s board of directors approved the Divestiture Agreement and related
transactions.

Later on December 19, 2024, Aadi, Kaken and Kaken Parent entered into the Divestiture Agreement and applicable parties signed Support