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Monday, April 14, 2025

Equity Corporate Actions Alert #2025 - 198
(UPDATED: Closed) Information Regarding the Business Combination, Change of Control, and Reverse Split of Cara Therapeutics, Inc. (CARA) & Tvardi Therapeutics, Inc.

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  • Industry Announcement

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The business combination of Cara Therapeutics, Inc. (CARA) & Tvardi Therapeutics, Inc. resulting in a Change of Control was deemed effective following shareholder approval on April 1, 2025. As a result, Cara Therapeutics, Inc. (CARA) will undergo a one-for-three (1-3) reverse stock split along with a change of corporate name and CUSIP number. As a result of the merger the combined company will list its Common Stock on the Nasdaq Capital Market. These changes will be effective at the open of business on Wednesday, April 16, 2025.

The details of the name & CUSIP changes are follows:

Current Company Name & Issue Type: Cara Therapeutics, Inc. Common Stock
New Company Name & Issue Type: Tvardi Therapeutics, Inc. Common Stock
Current CUSIP: 140755208
New CUSIP: 140755307
Current Symbol: CARA
New Symbol: TVRD
Ratio of Reverse Split: 1 for 3
Marketplace Effective Date: Wednesday, April 16, 2025

If you would like to register as a market maker in TVRD, contact Nasdaq Trading Services at +1 212 231 5100.

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