secwatch.observer — SEC 8-K summary
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Issuer:     Tvardi Therapeutics, Inc. (TVRD)
CIK:        0001346830
Form:       8-K
Filed at:   2024-12-18T23:59:59+00:00
Accession:  0001104659-24-129596
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 5.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud

Cara Therapeutics to Merge with Tvardi Therapeutics and Sell Difelikefalin Assets to CSL Vifor
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1346830/000110465924129596/0001104659-24-129596-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1346830/000110465924129596/tm2431150d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-129596

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