Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 958

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 958
---
 the Merger), $0.001 par value per share (Tvardi common stock), will be converted into the right to receive a number shares of common stock of Cara, $0.001 par value per share (Cara common stock) in the aggregate, based on a ratio calculated in accordance with the Merger Agreement (the Exchange Ratio) (ii) the outstanding Convertible Notes of Tvardi will be converted into shares of Cara common stock, pursuant to the terms of the Convertible Notes and assuming interest on the Convertible Notes is accrued through the anticipated Effective Time. At the Effective Time, subject to the terms and conditions of the Merger Agreement, Cara will assume outstanding and unexercised options to purchase shares of Tvardi common stock, and in connection with the Merger, they will be converted into options to purchase shares of Cara common stock based on the Exchange Ratio. As of the Effective Time, Cara’s stockholders will continue to own and hold their then existing shares of Cara common stock, subject to adjustment for a reverse stock split.

The completion of the Merger is subject to customary closing conditions, including, among other things (i) approval by the stockholders of each party of the adoption and approval of the Merger Agreement and the transactions contemplated thereby, (ii) Nasdaq’s approval of the listing of shares of Cara common stock to be issued in connection with the Merger, (iii) the effectiveness of a registration statement filed with the SEC in connection with the Merger, and (iv) Cara net cash at the Effective Time of at least $18.0 million.

<div align='center'>F-133</div>

TABLE OF CONTENTS

#### Annex A

### AGREEMENT AND PLAN OF MERGERAND REORGANIZATION
<div align='center'>among:</div>

#### CARA THERAPEUTICS, INC.
<div align='center'>a Delaware corporation;</div>

#### CT CONVERGENCE MERGER SUB, INC.,
<div align='center'>a Delaware corporation; and</div>

#### TVARDI THERAPEUTICS, INC.
<div align='center'>a Delaware corporation

Dated as of December 17, 2024</div>

TABLE OF CONTENTS

TABLE OF CONTENTS

| ​                                                               | ​ | ​ | Page |   |      |   | ​ |
| Section 1.                                                      
 DESCRIPTION OF TRANSACTION                                      
 ​                                                               | ​ | ​ | ​    | ​ | A-2  | ​ | ​