Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 651

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 651
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 resulted in the person becoming an interested stockholder, the person owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding shares owned by persons who are directors and also officers of the corporation and shares issued under employee stock plans under which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or |

| ● | on or subsequent to the date the person became an interested stockholder, the board of directors of the corporation approved the business combination and the stockholders of the corporation authorized the business combination at an annual or special meeting of stockholders by the affirmative vote of at least 66 2/3% of the outstanding stock of the corporation not owned by the interested stockholder. |

Section 203 of the DGCL defines a “business combination” to include any of the following:

| ● | any merger or consolidation involving the corporation and the interested stockholder; |

| ● | any sale, transfer, pledge or other disposition of 10% or more of the corporation’s assets or outstanding stock involving the interested stockholder; |

| ● | subject to exceptions, any transaction that results in the issuance or transfer by the corporation of any of its stock to the interested stockholder; |

| ● | any transaction involving the corporation that has the effect of increasing the proportionate share of its stock owned by the interested stockholder; or |

| ● | the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation. |

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In general, Section 203 defines an “interested stockholder” as any person who, together with the person’s affiliates and associates, owns, or within three years prior to the determination of interested stockholder status did own, 15% or more of a corporation’s voting stock.

Section 203 of the DGCL could depress Cara’s stock price and delay, discourage or prohibit transactions not approved in advance by Cara’s board of directors, such as takeover attempts that might otherwise involve the payment to Cara’s stockholders of a premium over the market price of Cara’s common stock.

Choice of Forum

Cara’s amended and restated certificate of incorporation provides that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware shall be the sole and exclusive forum for (A) any derivative action or proceeding brought on Cara’s behalf; (