Company: TVRD
Filing Date: 2025-03-24
Form Type: 425
Source: 0001104659-25-027234
Chunk: 1

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-03-24
Form: 425
Chunk 1
---
 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 8.01. Other Events.

As previously announced, on December 17,
2024, Cara Therapeutics, Inc., a Delaware corporation (“Cara”), entered into an Agreement and Plan of Merger and Reorganization
(the “Merger Agreement”) with Tvardi Therapeutics, Inc., a Delaware corporation (“Tvardi”), a clinical-stage
biopharmaceutical company focused on the development of novel, oral, small molecule therapies targeting STAT3 to treat fibrosis-driven
diseases with significant unmet need, and CT Convergence Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of Cara (“Merger
Sub”). Upon the terms and subject to the satisfaction of the conditions described in the Merger Agreement, Merger Sub will be merged
with and into Tvardi, with Tvardi surviving as a wholly-owned subsidiary of Cara (the “Merger”).

This Current Report on Form 8-K (this “Form 8-K”)
is being filed to update and supplement the proxy statement/prospectus (the “proxy statement/prospectus”) (1) included
in the Registration Statement on Form S-4, as amended (File No. 333-283900) (the “Registration Statement”), initially
filed by Cara with the Securities and Exchange Commission (the “SEC”) on December 18, 2024 and declared effective by
the SEC on February 14, 2025, (2) filed by Cara with the SEC as a prospectus on February 14, 2025, and (3) first mailed
to Cara’s stockholders on February 14, 2025. Terms used in this Form 8-K, but not otherwise defined, shall have the respective
meanings ascribed to such terms in the proxy statement/prospectus.

Following the announcement of the Merger Agreement
and as of the date of this Form 8-K, thirteen demands regarding the disclosures in the Registration Statement and the Merger were
received by Cara. Additionally, two lawsuits have been filed