Cara Therapeutics (CARA) and Tvardi Therapeutics said Wednesday they have signed an agreement to merge in an all-stock deal.
Under the terms of the agreement, Tvardi will merge with a subsidiary of Cara Therapeutics. When the merger closes, Cara Therapeutics shareholders will own approximately 17% of the combined company while Tvardi Therapeutics' investors are expected to own the remaining 83%.
Financial terms were not disclosed.
Upon deal completion, the combined company is expected to operate under the name Tvardi Therapeutics and trade on Nasdaq under the ticker symbol, "TVRD."
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.