Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 88

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 88
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 us to ensure that the proceeds in the Trust Account are not reduced below $10.00 per public share, or such lesser per public share amount as is in the Trust Account on the liquidation date, by the claims of prospective target businesses with which we have entered into an acquisition agreement or claims of any third party for services rendered or products sold to us, but only if such a third party or target business has not executed a waiver of any and all rights to seek access to the Trust Account;

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the fact that none of our officers or directors has received any cash compensation for services rendered to Iris, and all of the current members of the Iris Board are expected to continue to serve as directors at least through the date of the Special Meeting and may even continue to serve following the Business Combination and receive compensation thereafter;

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the fact that the Sponsor and Iris’s officers and directors will lose their entire investment in Iris if the Business Combination or another qualifying business combination or an amendment the Iris Certificate of Incorporation by stockholder approval is not completed March 31, 2025 (subject to an additional three month extension at the discretion of the Iris Board);

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the fact that pursuant to the Lock-Up Agreement, the Sponsor and certain other stockholders agree that they will not Transfer any Lock-up Shares until the end of the Lock-up Period, except as permitted by and in accordance with the Lock-Up Agreement;

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the fact that the Sponsor and Iris’s officers and directors will hold 6,900,000 shares of ParentCo Common Stock following the Business Combination, the aggregate value of which is estimated to be approximately $77,418,000, assuming the per share value of the ParentCo Common Stock is the same as the $11.22 per share closing price of Iris’s Class A Common Stock on the OTC Pink Marketplace as of January 2, 2025;

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the fact that the Sponsor will benefit from completion of the Business Combination and may be incentivized to complete an acquisition of a less favorable target company or on terms less favorable to stockholders, rather than liquidate;

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the continued indemnification, advancement of expenses, exculpation, maintenance of director’s and officer’s “tail” insurance, and other limitations on liability of Iris’s existing directors and officers after the Business Combination until the sixth (6th) anniversary of the Closing Date;

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the fact that on December 13, 2024, the Company was notified that on July 24,