Company: TVRD
Filing Date: 2025-04-15
Form Type: 8-K
Source: 0001104659-25-035121
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Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-04-15
Form: 8-K
Item: Item 2.01
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Item 2.01. Completion of Acquisition or Disposition of Assets.

On April 15, 2025, Cara, Merger Sub and
Tvardi consummated the transactions contemplated by the Merger Agreement following a Special Meeting of Cara’s stockholders. Effective at 4:01 p. m. eastern time on April 15, 2025, Cara effected a 1-for-3 reverse
stock split of its common stock (the “ Reverse Stock Split”) and effective at 4:02 p. m. eastern time on April 15,
2025, Cara increased its authorized shares of common stock to 150,000,000. Effective at 4:03 p. m. eastern time on April 15,
2025, pursuant to the Certificate of Merger, Merger Sub was merged with and into Tvardi and Tvardi became a wholly owned subsidiary of
the Company. Effective at 4:04 p. m. eastern time on April 15, 2025, the Company changed its name to “ Tvardi Therapeutics, Inc.”
(the “ Name Change”). Following the completion of the Merger, the business conducted by the Company became primarily the business
conducted by Tvardi, which is 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. Unless noted otherwise, all references to share and per
share amounts in this Current Report on Form 8-K reflect the Reverse Stock Split.

Under the terms of the Merger, immediately prior to the effective time
of the Merger, each share of Tvardi’s preferred stock was converted into one share of Tvardi’s common stock. At the effective
time of the Merger, the Company issued an aggregate of 7,805,161 shares of its common stock to Tvardi’s stockholders and holders
of outstanding convertible promissory notes (the “ Convertible Notes”) of Tvardi, based on (i) an exchange ratio of 0.1341
shares of the Company’s common stock for each share of Tvardi common stock outstanding immediately prior to the Merger, including
those shares of common stock issued upon conversion of the Tvardi preferred stock (but excluding shares of Tvardi’s common stock
held (a) as treasury stock by Tvardi, (b) by Cara, Merger Sub, or any