Company: TVRD
Filing Date: 2025-01-17
Form Type: 425
Source: 0001104659-25-004519
Chunk: 1

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-17
Form: 425
Chunk 1
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§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

| Item 8.01 | Other Events. |

Regained Compliance – Nasdaq Minimum Bid Price Requirement

As previously disclosed, on February 1, 2024,
Cara Therapeutics, Inc. (the " Company") received a notification letter from the Listing Qualifications Department (the
“Staff”) of The Nasdaq Stock Market (“Nasdaq”) with respect to the Company’s
failure to maintain a minimum closing bid price of $1.00 per share on any business day over a thirty consecutive business day period,
as required for continued listing on the Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) ( “Rule 5450(a)(1)”).
As previously disclosed, the Company had been provided an initial period of 180 calendar days, or until July 30, 2024, to regain compliance
with Rule 5450(a)(1), which period was extended by Nasdaq by notification received on July 31, 2024 for an additional 180 calendar day
period ending January 27, 2025 to regain compliance with the same minimum closing bid price requirement for continued listing on the
Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (together with Rule 5450(a)(1), the “Minimum Bid Price Requirement”).
Effective as of August 1, 2024, the listing of the Company’s common stock was transferred from the Nasdaq Global Market to the
Nasdaq Capital Market.

As part of the Company’s plans to regain compliance with the
Minimum Bid Price Requirement following the initial notification letter, a series of alternate amendments to effect (i) a reverse stock
split and (ii) a reduction in the total number of authorized shares of the Company’s common stock was approved by the Company’s
stockholders at the Company’s 2024 Annual Meeting of Stockholders held on June 4, 2024.

On December 19, 2024, the Company’s board of directors approved
a one-for-twelve (12) reverse stock split (the “Reverse Stock Split”) and corresponding reduction in the total
number of authorized