Company: TVRD
Filing Date: 2025-02-14
Form Type: S-4/A
Source: 0001104659-25-013053
Chunk: 589

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: S-4/A
Chunk 589
---
 an at-the-market offering pursuant to the Shelf Registration Statement. Jefferies is acting as sole sales agent for any sales made under the Sales Agreement for a 3% commission on gross proceeds. In June 2024, Cara filed an amendment to the prospectus dated May 11, 2022 for the at-the-market offering, or the ATM Prospectus, to update the amount of shares of Cara’s common stock Cara is eligible to sell under General Instruction I.B.6 of Form S-3, as described above, and pursuant to the Sales Agreement. Pursuant to General Instruction I.B.6 of Form S-3, in no event will Cara sell shares of its common stock pursuant to the ATM Prospectus, as amended, with a value of more than one-third of its public float in any 12-month period, so long as Cara’s public float is less than $75.0 million. If Cara’s public float increases above $75.0 million such that Cara may sell additional amounts under the Sales Agreement and the ATM Prospectus, Cara will file another amendment to the ATM Prospectus prior to making additional sales in excess of the limitations of General Instruction I.B.6 of Form S-3. The common stock will be sold at prevailing market prices at the time of the sale, and, as a result, prices may vary. Unless otherwise terminated earlier, the Sales Agreement continues until all shares available under the Sales Agreement have been sold. No shares were sold under the Sales Agreement during the three and nine months ended September 30, 2024. During the three and nine months ended September 30, 2023, 32,240 shares were sold under the Sales Agreement and Cara received net proceeds of $1.1 million. In recognition of the decision by Cara’s Board to approve a streamlined operating plan exploring strategic alternatives, as described elsewhere in this report, Cara currently does not have any intention to sell shares pursuant to the Sales Agreement.

Cara may offer additional securities under its Shelf Registration Statement from time to time in response to market conditions or other circumstances if Cara believe such a plan of financing is in the best interests of its stockholders.

Under Cara’s agreement with CSL Vifor for the commercialization of KORSUVA injection, Cara is eligible to receive commercial milestone payments in the aggregate of up to $240.0 million from CSL Vifor upon the achievement of certain sales-based milestones. In October 2021, Cara received a $50.0 million milestone payment from CSL Vif