Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 316

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 316
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 | ​ |        |  88 |
| Total lease payments                                | ​ |        | 343 |
| Less: imputed interest                              | ​ |        | -39 |
| Present value of lease liabilities                  | ​ |        | 304 |
| Less: operating lease liabilities, current portion  | ​ | $      | 103 |
| Operating lease liabilities, net of current portion | ​ | $      | 201 |

F-18

8. Convertible Notes In December 2024, Tvardi entered into a note purchase agreement to issue and sell convertible notes (the Convertible Notes) in an aggregate principal amount of $ 28.3million. The Convertible Notes accrue interest at 8% per annum and mature on December 31, 2026 (the Maturity Date). As of December 31, 2024, the Company has recorded $ 0.2million in accrued interest. Pursuant to the terms of the note purchase agreement, the Convertible Notes may be converted into shares of common stock or other equity securities upon (i) a Qualified Financing or non-Qualified Financing (both as defined below), (ii) an IPO, or (iii) a reverse merger, as further discussed below. Conversion upon a Qualified Financing In the event that the Company issues and sells shares of its equity securities to investors while the Convertible Notes remain outstanding in an equity financing with total proceeds of at least $ 15.0million (a Qualified Financing), then the outstanding principal amount of the Convertible Notes and any unpaid accrued interest shall automatically convert into equity securities sold in the Qualified Financing at a conversion price equal to the lesser of (i) the price paid per share of the equity securities by the investors in the Qualified Financing multiplied by 0.8and (ii) the quotient resulting from dividing $ 252.0million by the number of outstanding shares of common stock of the Company immediately prior to the Qualified Financing. Optional conversion upon a non-Qualified Financing In the event that the Company consummates, while the Convertible Notes remain outstanding, an equity financing pursuant to which it sells shares of the Company’s preferred stock in a transaction that does not constitute a Qualified Financing, the noteholders holding a majority of the outstanding principal amount of the Convertible Notes shall have the option to treat such equity financing as a Qualified Financing and thereby cause the Convertible Notes to convert into equity securities pursuant to the terms of the Qualified Financing. Conversion upon on IPO In the event that the Company