Company: TVRD
Filing Date: 2025-11-13
Form Type: 424B3
Source: 0001104659-25-111336
Chunk: 175

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-11-13
Form: 424B3
Chunk 175
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 with litigating
Securities Act claims in state court, or both state and federal court, which could seriously harm its business, financial condition, results
of operations, and prospects. This exclusive forum provision may make it more expensive for stockholders to bring a claim than if the
stockholders were permitted to

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select another jurisdiction and may limit a stockholder’s ability
to bring a claim in a judicial forum that it finds favorable for disputes with Tvardi or its directors, officers or other employees or
stockholders, which may discourage such lawsuits against Tvardi and its directors, officers and other employees and stockholders. Alternatively,
if a court were to find the choice of forum provision contained in Tvardi’s amended and restated certificate of incorporation or
amended and restated bylaws to be inapplicable or unenforceable in an action, Tvardi may incur additional costs associated with resolving
such action in other jurisdictions, which could materially and adversely affect its business, financial condition and results of operations.

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Tvardi does not anticipate paying any cash dividends in the foreseeable future.

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The current expectation is that Tvardi will retain
its future earnings, if any, to fund the development and growth of Tvardi’s business. As a result, capital appreciation, if any,
of the common stock of Tvardi will be its stockholders’ sole source of gain, if any, for the foreseeable future.

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An active trading market for Tvardi’s common stock may not develop and its stockholders may not be able to resell their shares of common stock for a profit, if at all.

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Prior to the Merger, there had been no public market
for Legacy Tvardi’s common stock. An active trading market for Tvardi’s shares of common stock may never develop or be sustained.
If an active market for its common stock does not develop or is not sustained, it may be difficult for its stockholders to sell their
shares at an attractive price or at all.

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Future sales of shares by existing stockholders could cause Tvardi’s stock price to decline.

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If existing stockholders of Tvardi sell, or indicate
an intention to sell, substantial amounts of Tvardi’s common stock in the public market after legal restrictions on resale lapse,
including upon the expiration or release of lock-up restrictions pursuant to the terms of the Lock-Up Agreements, the trading price of