Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 90

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 90
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 that within approximately 90 days after the closing, a portion of such amount would be subject to distribution to Aadi in an amount equal to the amount (if any) by which $1.375 million exceeds the amount of any purchase price adjustment in Kaken’s favor. On that same day, Bidder H submitted a non-bindingindication of interest to acquire the FYARRO assets for the following cash consideration: (i) a cash payment of $81.0 million at closing; and (ii) three potential one-timecommercial and regulatory milestone cash payments of up to $19.0 million in the aggregate (the “Bidder H December 17 Proposal”). The indication of interest stated that Bidder H’s offer would be subject to a financing contingency. Also on that same day, the Bidder B CEO contacted Dr. Lennon via telephone at approximately 4:30 p.m. Eastern time to notify him that Bidder B would increase its offer to $95 million and drop all closing conditions requiring amendments and negotiations of Aadi’s third party agreements, so long as Aadi and Bidder B entered into an exclusivity agreement no later than 12:59 a.m. Eastern time the following day (December 18) pursuant to which Aadi would be bound to exclusively negotiate with Bidder B through December 20, 2024. Representatives of Bidder B subsequently delivered to representatives of Leerink Partners an updated non-binding indication of interest and proposed form of exclusivity agreement reflecting the aforementioned terms (the “Bidder B December 17 Proposal”). The indication of interest stated that it was Bidder B’s final proposal. Later that same day, Aadi’s board of directors held a virtual meeting, with Aadi’s management team and representatives of Leerink Partners and Wilson Sonsini in attendance. At the meeting, Aadi’s board of directors received a report of, and deliberated with the management team regarding, the Bidder B December 17 Proposal. Among other things, following input from Leerink Partners and Wilson Sonsini, Aadi’s board of directors provided guidance to the management team regarding the circumstances under which a short exclusivity period would be appropriate. Aadi’s board of directors also directed the management team and the representatives of Leerink Partners to inform Kaken Parent immediately that it would need to improve its bid significantly in order for Aadi not to enter into exclusivity with another bidder. Aadi’s board of directors separately considered the Bidder H December 17 Proposal. Due to the financing contingency, the amount