Company: LIMN
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001410578-25-001746
Chunk: 103

Company: Liminatus Pharma, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 103
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31, 2025, the financial statements of Iris as of and for the year ended December 31, 2024, the financial statements of ParentCo as of and for the three months ended March 31, 2025, the financial statements of ParentCo as of and for the year ended December 31, 2024, the financial statements of Liminatus as of and for the three months ended March 31, 2025, the financial statements of Liminatus as of and for the year ended December 31, 2024 and the sections of this filing entitled “Iris’s

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Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and “Liminatus’s Management’s Discussion and Analysis of Financial Condition and Results of Operations,” as well as other financial information included elsewhere in this filing. Business Combination Agreement On November 30, 2022, Iris entered into a Business Combination Agreement (as it may be amended, supplemented or otherwise modified from time to time), by and among Iris, ParentCo, Liminatus, Liminatus Pharma Merger Sub Inc. and SPAC Merger Sub, Inc. Pursuant to the Business Combination Agreement, on the Closing, in sequential order: (a) Liminatus Merger Sub merged with and into Liminatus, with Liminatus continuing as the surviving company and a wholly owned subsidiary of ParentCo (the “Liminatus Merger”) and (b) simultaneously with the Liminatus Merger, SPAC Merger Sub merged with and into Iris (the “SPAC Merger”, together with the Liminatus Merger (the “Mergers”)), with Iris surviving the SPAC Merger as a direct wholly-owned subsidiary of ParentCo. In connection with the Business Combination, the cash held in the Trust Account after giving effect to any redemption of shares by Iris’ public stockholders will be used to pay certain fees and expenses in connection with the Business Combination, and for working capital and general corporate purposes. Business Combination Consideration Due to the Business Combination being completed, each issued and outstanding Iris Class A Share converted automatically into the right to receive one share of ParentCo Common Stock. The total merger consideration received by securityholders of ParentCo at the Closing was the issue of ParentCo Common Stock with an aggregate value equal to approximately $175 million. The number of shares comprising the equity consideration was determined originally based on a deemed price of $10.00 per share of the ParentCo Common Stock. Accounting