We study a modified two-dimensional dilaton gravity theory which is exactly solvable in the semiclassical approximation including back-reaction. The vacuum solutions of this modified theory are asymptotically flat static space-times. Infalling matter forms a black hole if its energy is above a certain threshold. The black hole singularity is initially hidden behind a timelike apparent horizon. As the black hole evaporates by emitting Hawking radiation, the singularity meets the shrinking horizon in finite retarded time to become naked. A natural boundary condition exists at the naked singularity such that for general infalling matter-configuration the evaporating black hole geometries can be matched continuously to a unique static end-state geometry. This end-state geometry is asymptotically flat at its right spatial infinity, while its left spatial infinity is a semi-infinite throat extending into the strong coupling region.
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