Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 444

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 444
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 of the Merger and the Asset Disposition, and there can be no assurances that the Merger and Asset Disposition will be successfully consummated. There can be no assurance that any transaction, including the Merger and the Asset Disposition, will be completed on terms favorable to the Company and its stockholders. If these transactions are unsuccessful, the Company’s Board of Directors may decide to pursue a dissolution and liquidation of the Company.​

#### F-98

#### CARA THERAPEUTICS, INC.​NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(amounts in thousands, except share and per share data)

#### 23.Subsequent EventsNasdaq Continued Listing RulesOn January 14, 2025, based on the Compliance Plan (see Note 1,Business), which contemplates the closing of the proposed Merger between the Company and Tvardi (the “Combined Company”), Nasdaq granted the Company an extension until May 19, 2025 to regain compliance with the Stockholders’ Equity Requirement.The Merger will constitute a “change of control” for purposes of Nasdaq’s listing rules and will require that the Combined Company comply with all applicable criteria for initial listing on the Nasdaq Capital Market, including a higher bid price requirement and higher Stockholders’ Equity Requirement. The parties intend to satisfy each of the applicable listing criteria upon completion of the proposed Merger such that the Combined Company will remain listed on the Nasdaq Capital Market.On January 16, 2025, the Company received a letter from Nasdaq notifying the Company that it has regained compliance with the bid price requirement. The closing bid price of the Company’s common stock was at or above $1.00 per share for ten consecutive business days, and Nasdaq considers the matter closed.Consummation of Merger AgreementOn April 15, 2025, the Company, CT Convergence Merger Sub, Inc., a wholly owned subsidiary of the Company (“Merger Sub”), and Tvardi consummated the transactions contemplated by the Merger Agreement following a Special Meeting (as further described below) of the Company’s stockholders. Effective at 4:01 p.m. Eastern Time on April 15, 2025, the Company effected the 2025 Reverse Stock Split (as further described below), and effective at 4:02 p.m. Eastern Time on April 15, 2025, the Company increased its authorized shares of common stock to150,000,000. Effective at 4