Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 282

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 282
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 to which certain directors, officers and stockholders of Cara and Tvardi, respectively, have agreed, solely in their capacity as stockholders of Cara and Tvardi, respectively, to vote all of their shares of Cara common stock or Tvardi capital stock, respectively, in favor of the adoption and approval, of the Merger Agreement and the Contemplated Transactions;

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the ability to obtain a Nasdaq listing and comply with Nasdaq listing requirements;

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the terms and conditions of the Merger Agreement, including, without limitation, the following:

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the expected relative percentage ownership of Cara equityholders and Tvardi equityholders in the combined company initially at the Closing and the implied valuation of Tvardi based on Cara’s cash contribution to the combined company;

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the parties’ representations, warranties and covenants and the conditions to their respective obligations;

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the limited number and nature of the conditions of the obligation of Cara to consummate the Merger; and

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the likelihood that the Merger will be consummated on a timely basis.

Tvardi’s Board also considered a number of uncertainties and risks in its deliberations concerning the Merger and the other transactions contemplated by the Merger Agreement, including the following:

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the risk that the potential benefits of the Merger Agreement may not be realized;

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the risk that future sales of common stock by existing Cara stockholders may cause the price of Cara common stock to fall, thus reducing the value of the consideration received by Tvardi stockholders in the Merger;

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the termination fee of $2.25 million and/or expense reimbursements of up to $750,000, payable by Tvardi to Cara upon the occurrence of certain events, and the

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the price volatility of Cara’s common stock, which may reduce the value of Cara common stock that Tvardi stockholders will receive upon the Closing;

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the potential reduction of Cara’s net cash prior to Closing;

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the possibility that Cara could under certain circumstances consider unsolicited acquisition proposals if superior to the Merger;

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the possibility that the Merger might not be completed for a variety of reasons, such as the failure of Cara to obtain the required stockholder vote, and the potential adverse effect on the reputation of Tvardi and the ability of Cara to obtain financing in the future in the event the Merger is not completed;

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the risk that the Merger might not be consummated in a timely manner or