Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 307

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 307
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 | ​ | ​ | ​ | $ | 0.52 | ​ | ​ |
| 3/31/25 Ending Cash, Net Initial Distribution            | ​ | ​ | ​ | $ |  0.8 | ​ | ​ |
| Less: Operating Expenses during Liquidation Period       | ​ | ​ | ​ | $ | -0.3 | ​ | ​ |
| Cash Available to Distribute (3/31/2028)                 | ​ | ​ | ​ | $ |  0.5 | ​ | ​ |
| Diluted Shares Outstanding (Using Treasury Stock Method) | ​ | ​ | ​ | ​ | 55.8 | ​ | ​ |
| Undiscounted Final Distribution Per Share (3/31/2028)    | ​ | ​ | ​ | $ | 0.01 | ​ | ​ |
| Discounted Final Distribution (Aggregate)                | ​ | ​ | ​ | $ |  0.4 | ​ | ​ |
| Discounted Final Distribution (Per Share)                | ​ | ​ | ​ | $ | 0.01 | ​ | ​ |
| Total Present Value of Distributions (Aggregate)         | ​ | ​ | ​ | $ | 29.6 | ​ | ​ |
| Total Present Value of Distribution (Per Share)          | ​ | ​ | ​ | $ | 0.53 | ​ | ​ |

The above analysis results in an implied aggregate equity value of Cara of $29.6 million, or $0.53 per share of Cara common stock. The Management Liquidation Analysis does not take into account any circumstances or events occurring after the date it was prepared. Cara can give no assurance that, had Management Liquidation Analysis been prepared as of the date of this proxy statement/prospectus, similar estimates and assumptions would be used. Cara does not intend to, and disclaims any obligation to, make publicly available any update or other revision to the Management Liquidation Analysis to reflect circumstances existing since its preparation or to reflect the occurrence of unanticipated events, even in the event that any or all of the assumptions underlying the Management Liquidation Analysis is shown to be in error, or to reflect changes in general economic or industry conditions. The Management Liquidation Analysis does not take into account the possible financial and other effects on Cara of the Merger and does not attempt to predict or suggest future results of the post-Merger company. The Management Liquidation Analysis does not give effect to the Merger,