Company: TVRD
Filing Date: 2025-02-14
Form Type: S-4/A
Source: 0001104659-25-013053
Chunk: 734

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: S-4/A
Chunk 734
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 the unaudited pro forma condensed combined statement of operations as most of Cara’s directors and officers will not continue as directors and officers in the post-combination entity and therefore the D&O tail policy does not represent any future benefit for the post-combination entity. 7(f) To reflect Cara’s increase in compensation expense of $0.1 million due to the accelerated vesting of 40,330 RSUs, after giving effect to the proposed Reverse Stock Split at an assumed ratio of 1-for-2, in the unaudited pro forma condensed combined statement of operations for the year ended December 31, 2023, assuming that the adjustment described in 6(m) was made on January 1, 2023. 7(g) To reflect the incremental change in fair value related to Tvardi’s Convertible Notes that is recorded in the unaudited pro forma condensed combined statement of operations for the year ended December 31, 2023, assuming that the adjustment described in Note 6(o) was made on January 1, 2023. 7(h) The pro forma combined basic and diluted net loss per share has been adjusted to reflect the pro forma net loss for the nine months ended September 30, 2024 and year ended December 31, 2023. In addition, the number of shares used in calculating the pro forma combined basic and diluted net loss per share has been adjusted to reflect the estimated total number of shares of common stock of the combined company for the respective periods. For the nine months ended September 30, 2024 and year ended December 31, 2023, the pro forma weighted-average shares have been calculated as follows:

| ​                                                                                                     | ​ | ​ | September 30, 2024 |   |            |   | ​ | ​ | December 31, 2023 |   |            |   | ​ |
|:------------------------------------------------------------------------------------------------------|:--|:--|:-------------------|:--|-----------:|:--|:--|:--|:------------------|:--|-----------:|:--|:--|
| ​                                                                                                     | ​ | ​ | Basic and Diluted  |   |            |   | ​ | ​ | Basic and Diluted |   |            |   | ​ |
| Historical weighted-average number of Tvardi common stock outstanding                                 | ​ | ​ | ​                  | ​ | 19,192,595 | ​ | ​ | ​ |