Item 8.01 Other Information.
As previously disclosed, on August 23, 2021, Cara Therapeutics, Inc. ("Cara")
received approval of its New Drug Application for KORSUVA™ injection for the
treatment of moderate-to-severe pruritus in hemodialysis patients from the U.S.
Food and Drug Administration (the "Approval Milestone"). Pursuant to a
securities purchase agreement (the "Purchase Agreement") between Cara and Vifor
(International) Ltd. ("Vifor Pharma"), dated October 15, 2020, Cara is eligible
to receive $50 million common stock investment at a 20% premium to the 30-day
trailing average price of Cara's common stock ending on the date immediately
prior to the achievement of the Approval Milestone. A description of the
Purchase Agreement is included in Cara's Current Report on Form 8-K filed with
the Securities and Exchange Commission ("SEC") on October 20, 2020 and is
incorporated herein by reference.
In connection with the achievement of the Approval Milestone on August 23, 2021,
Cara will receive from Vifor Pharma a $50.0 million investment in Cara's common
stock at a price of $15.23 per share, equaling 3,282,391 shares of Cara's common
stock (the "Milestone Investment"). The closing of the Milestone Investment will
occur within five business days following the expiration of the requisite
waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976.
This Current Report on Form 8-K is not an offer to sell or the solicitation of
an offer to buy shares of shares of common stock or other securities of Cara.
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