{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-129596","form_type":"8-K","ticker":"TVRD","cik":"0001346830","company_name":"Tvardi Therapeutics, Inc.","filed_at":"2024-12-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:08.229230+00:00","generated_at":"2026-05-29T01:56:41.364251+00:00","sec_items":["1.01","5.01","5.02","8.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Cara Therapeutics to Merge with Tvardi Therapeutics and Sell Difelikefalin Assets to CSL Vifor","bullets":["Cara enters Merger Agreement with Tvardi; pre-Merger Cara holders will own ~15.25%, Tvardi holders ~12.54%, convertible note holders ~72.21% of combined company.","Cara agrees to sell difelikefalin assets to CSL Vifor for $900,000 plus $3 million payment to CSL Vifor for estimated future expenses.","Tvardi CEO Imran Alibhai, Ph.D., will become CEO of combined company; Tvardi CFO Dan Conn to be CFO; existing Cara officers expected to depart.","Tvardi convertible notes of ~$28 million principal automatically convert into Cara common stock at closing; lock-up agreements restrict transfer for 180 days.","Support agreements from Cara holders representing ~1.0% of Cara stock and Tvardi holders representing ~97% of Tvardi capital stock to vote in favor."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-129596","json":"https://secwatch.observer/filing/0001104659-24-129596.json","markdown":"https://secwatch.observer/filing/0001104659-24-129596.md","text":"https://secwatch.observer/filing/0001104659-24-129596.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1346830/000110465924129596/0001104659-24-129596-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1346830/000110465924129596/tm2431150d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud","generated_at":"2026-05-29T01:56:41.364251+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}