Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 156

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 156
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 License Agreement and the PIPE Financing, as well as Aadi’s engagement letter with
Jefferies. Following discussion, Aadi’s board of directors (i) formed the PIPE Pricing Committee, effective immediately, comprised of disinterested directors Neil Desai, Ph.D., Karin Hehenberger, M.D., Ph.D., Mohammad Hirmand, M.D.,
Richard Maroun and Emma Reeve, and (ii) ratified the Jefferies engagement letter. As established by Aadi’s board of directors, the PIPE Pricing Committee had the full power and authority of Aadi’s board of directors to
(i) consider, explore, evaluate, assist in the oversight of, and make recommendations to Aadi’s board of directors regarding the PIPE Financing, including the amount, timing, pricing and structure of the PIPE Financing;
(ii) supervise, retain, authorize, and direct Aadi’s management and legal counsel, Jefferies, and other representatives and agents to engage in discussions and negotiations in connection with the PIPE Financing; and (iii) take or
approve any and all other actions as the PIPE Pricing Committee deemed necessary or appropriate in connection with the PIPE Financing, provided that that the PIPE Pricing Committee did not have any power or authority to cause Aadi or any other
person to enter into any definitive agreement relating to the PIPE Financing or any other potential strategic or capital-raising transaction (which power and authority was exclusively retained by Aadi’s board of directors).

On December 11, 2024, the PIPE Pricing Committee held a virtual meeting with Aadi’s management and representatives of Wilson Sonsini. At the
meeting, Aadi’s management team provided an update regarding the status of the PIPE Financing and the investor syndicate to date (comprised of five non-insider investors who had indicated interest in participating in the PIPE Financing). The
PIPE Pricing Committee deliberated regarding the foregoing matters and also, among other things, regarding investor feedback to date regarding the ADC Programs, including from approximately 40 investors who declined to participate in the PIPE
Financing; the anticipated size of the PIPE Financing; the sufficiency of anticipated cash runway following the PIPE Financing to reach key stages in developing the ADC Programs; and the potential participation of additional investors in the PIPE
Financing. Aadi’s management also provided an update regarding the process for selling the FYARRO business, including the most recent bids to acquire the FYARRO business from the two lead bidders, noting that wall-crossed investors in the PIPE
Financing were shown an