Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 347

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 347
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 Notes of $4.9million was recorded within other expense, on the Company’s condensed statement of operations and comprehensive loss for the three months ended March 31, 2025. For the three months ended March 31, 2025 the Company recognized $0.6million in interest expense related to the Convertible Notes, which is recorded in other expense on the condensed statement of operations and comprehensive loss. Refer to Note 3,Fair Value Measurements, for a rollforward of the fair value of the Convertible Notes from December 31, 2024 to March 31, 2025.The future minimum principal payments under the Convertible Notes, if not otherwise converted pursuant to the terms above, as of March 31, 2025 are as follows (in thousands):​​​​Year Ended December 31,Principal Payments2025 (remaining nine months)​$—2026​28,298Thereafter​—Total​$28,298​​Subsequent eventsAs further discussed in Note 19,Subsequent Events, the Company completed its Merger with Cara in April 2025. Upon the closing of the Merger, the Convertible Notes converted into1,265,757shares of common stock of Cara, $0.001par value per share (Cara common stock), pursuant to the terms described within the “Conversion upon a reverse merger” scenario above.9.Redeemable Convertible Preferred Stock​The Company issued Series A preferred stock and Series B preferred stock, which are collectively referred to as the Preferred Stock. As of March 31, 2025 and December 31, 2024, the Company authorized the issuance of29,723,540shares of Preferred Stock, par value of $0.001per share, of which9,499,999have been designated Series A preferred stock and20,223,541have been designated Series B preferred stock.Series A Preferred StockDuring 2018, the Company entered into the Series A preferred stock purchase agreements for8,550,340shares of Series A preferred stock with par value of $0.001each at a price $1.00per share, or the Series A Original Issue Price, with a group of investors for net proceeds of $8.4million, or the Series A Financing. In addition, in connection with the closing of the Series A Financing, then outstanding convertible promissory notes of $0.4million were converted into449,659shares of Series A preferred stock at the Series A Original Issue Price