Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 697

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 697
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555,538 shares of Tvardi common stock immediately prior to the Merger. Tvardi convertible preferred stock outstanding immediately prior to the Closing was comprised of the following:

| ​                                                                                                                             | ​ |          ​ |
| Tvardi Convertible Preferred Stock                                                                                            |   |          ​ |
| Series A Preferred Stock                                                                                                      | ​ |  9,499,999 |
| Series B Preferred Stock                                                                                                      | ​ | 20,055,539 |
| Total shares of Tvardi convertible preferred stock converted to shares of Tvardi common stock immediately prior to the merger | ​ | 29,555,538 |

6(l) To reflect the accelerated vesting of 80,660 of Cara’s RSUs upon the Closing pursuant to the terms of the Merger Agreement, an increase in compensation expenses of approximately $0.1 million and a decrease in additional paid-in capital of $0.1 million.

392

6(m) To reflect the recapitalization of Tvardi, pursuant to the Merger Agreement, through the contribution of 48,758,868 shares of Tvardi common stock (see Note 5), and the issuance of 23,756,894 shares of Cara common stock, reflecting the Exchange Ratio of 0.4084 and including the issuance of common stock upon the conversion of the Convertible Notes, and to reflect the derecognition of the accumulated deficit of Cara which is reversed to additional paid-in capital. The derecognition of accumulated deficit of Cara of $724.7 million is determined as follows (in thousands):

| ​                                                                                                                      | ​ | ​ |        ​ |
|:-----------------------------------------------------------------------------------------------------------------------|:--|:--|---------:|
| Accumulated deficit of Cara as of September 30, 2024                                                                   |   | $ | -747,933 |
| Gain in connection with extinguishment of liability related to sales of future royalties and milestones, see Note 6(c) | ​ | ​ |   37,583 |
| Derecognition of prepaid expenses, See Note 6(e)                                                                       | ​ | ​ |   -2,382 |
| Transaction costs of Cara, see Note 6(h)                                                                               | ​ |   |   -7,900 |
| Compensation expense related to change-in-control, severance, and retention payments, see Note 6(i)                    | ​ | ​ |   -3,899 |
| Acceleration of Cara’s RSUs upon closing of the Merger, see Note 6