Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 13

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 13
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 treat fibrosis-driven diseases with significant unmet need. For a discussion of Cara’s reasons for the Merger, please see the section titled “ The Merger — Cara Reasons for the Merger ” beginning on page 158of this proxy statement/prospectus and “ The Merger — Tvardi Reasons for the Merger ” beginning on page 161of this proxy statement/prospectus.

Q:

Why am I receiving this proxy statement/prospectus?

A:

You are receiving this proxy statement/prospectus because you have been identified as a holder of Cara common stock as of the record date.

This document serves as: (x) a proxy statement of Cara used to solicit proxies for the Cara special meeting and (y) a prospectus of Cara used to offer shares of Cara common stock in exchange for shares of Tvardi common stock (after giving effect to the Preferred Stock Conversion) and the Convertible Notes in the Merger. Information about the Cara special meeting, the Merger, the Merger Agreement and the other business to be considered by Cara stockholders at the Cara special meeting is contained in this proxy statement/prospectus. Cara stockholders should read this information carefully and in its entirety. The enclosed voting materials allow Cara stockholders to vote their shares by proxy without attending the Cara special meeting.

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TABLE OF CONTENTS

Cara Stockholders

If you are a holder of Cara common stock as of the record date, you are entitled to vote at the Cara special meeting, which has been called for the purpose of approving the following proposals:

1.

#### Proposal 1
— the issuance of shares of Cara common stock pursuant to the Merger, which (i) will represent more than 20% of the shares of Cara common stock outstanding immediately prior to the Merger and (ii) result in the change of control of Cara resulting from the Merger, pursuant to Rules 5635(a) and 5635(b) of Nasdaq, respectively, referred to as the Stock Issuance Proposal;

2.

#### Proposal 2 —
the Tvardi Therapeutics, Inc. 2025 Equity Incentive Plan, referred to as the Equity Plan Proposal;

3.

#### Proposal 3 —
the Tvardi Therapeutics, Inc. 2025 Employee Stock Purchase Plan, referred to as the ESPP Proposal;

4.

#### Proposal 4 —
an amendment to the amended and restated certificate of incorporation of Cara to effect a reverse stock