Company: TVRD
Filing Date: 2025-02-14
Form Type: S-4/A
Source: 0001104659-25-013053
Chunk: 418

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: S-4/A
Chunk 418
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 stock from 16,666,667 shares to 150,000,000 shares, and has voted to recommend that the stockholders adopt an amendment to Cara’s amended and restated certificate of incorporation effecting the proposed increase. The full text of the proposed amendment to Cara’s amended and restated certificate of incorporation is attached to this proxy statement as Annex G.

As of January 15, 2025, and assuming a 1-for-2 Reverse Stock Split to the implemented immediately prior to the closing of the Merger and upon the approval of the Reverse Stock Split Proposal, 2,285,614 shares of Cara common stock were issued and outstanding (excluding treasury shares) and approximately an additional 259,637 shares of Cara common stock were reserved for issuance upon the settlement of outstanding RSUs and exercise of outstanding options granted under our various stock-based plans. In addition, a total of approximately 247,137 and 12,500 shares of Cara common stock are available for future issuance under the 2014 Plan and 2019 Plan, respectively. Additionally, Cara expects that it will issue 11,878,447 shares of Cara common stock in the Merger, assuming a 1-for-2 Reverse Stock Split to be implemented prior to the consummation of the Merger as may be adjusted and as discussed in this proxy statement/prospectus, including shares issuable upon conversion of the Convertible Notes, excluding any shares that may be issued in connection with the exercise of options assumed by Cara. Following the issuance of the shares of Cara common stock in the Merger and upon the approval of the Equity Plan Proposal and the ESPP Proposal, 1,562,441 shares of Cara common stock will be reserved for future issuance, and a total of approximately 131,536,425 shares of Cara common stock is expected to be available for future issuance assuming the approval of this Proposal No. 5.

The Cara Board believes it continues to be in Cara’s best interest to have sufficient additional authorized but unissued shares of Cara common stock available in order to provide flexibility for corporate action and strategic transactions in the future. Management believes that the availability of additional authorized shares for issuance from time to time in the Cara Board’s discretion in connection with future financings, investment opportunities, stock splits or dividends or for other corporate purposes is desirable in order to avoid repeated separate amendments to Cara’s amended and restated certificate of incorporation and the delay and expense incurred in holding special meetings of the stockholders to approve such amendments. We currently have no