Company: TVRD
Filing Date: 2025-02-14
Form Type: S-4/A
Source: 0001104659-25-013053
Chunk: 730

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: S-4/A
Chunk 730
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 agreed upon prior to the Merger that had not yet been paid or fully accrued for as of September 30, 2024. As these costs are expected to be paid prior to the Closing, the $3.9 million is recorded as decrease to cash and cash equivalents and an increase to accumulated deficit in the unaudited pro forma condensed combined balance sheet as of September 30, 2024. 6(j) To reflect (i) preliminary estimated transaction costs of $4.0 million incurred by Tvardi in connection with the merger, such as advisory, legal and auditor fees as an increase in accrued expenses of $4.0 million, (ii) the derecognition of the deferred offering costs of $1.1 million included in the historical financial statements, and (iii) a reduction to additional paid-in capital of $5.1 million in the unaudited pro forma condensed combined balance sheet. As the merger is accounted for as a reverse recapitalization equivalent to the issuance of equity for the net assets of Cara, these direct and incremental costs are treated as a reduction of the net proceeds received within additional paid-in capital. 6(k) To reflect the automatic conversion, on a one-to-one basis, of all outstanding shares of Tvardi convertible preferred stock, with a carrying amount of $85.5 million, into 29,555,538 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 ofTvardi common stock immediately prior to the merger | ​ | ​ | ​ | ​ | 29,555,538 | ​ | ​ |

6(l) To reflect the proposed Reverse Stock Split for Cara, at an assumed ratio of 1-for-2. 6(m) To reflect the accelerated vesting of 40,330 of Cara’s RSUs, after giving effect to the proposed Reverse Stock Split at an assumed ratio of 1-for-2, upon the Closing pursuant to the terms of the Mer