Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 97

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 97
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                                                   | $ |     14,173 | ​ | ​ | ​ | ​                                             | $ |     14,192 | ​ | ​ |
| Total equity                                                                                                            | ​ | ​ | ​                                                   | $ |     -9,080 | ​ | ​ | ​ | ​                                             | $ |    -11,034 | ​ | ​ |

25

TABLE OF CONTENTS

### RISK FACTORS
You should carefully consider the following risk factors, in addition to the other information included in this proxy statement/prospectus, including matters addressed in the section entitled “Cautionary Note Regarding Forward-Looking Statements” and the financial statements and notes to the financial statements included herein. In addition, you should read and consider the risks associated with the business of Iris because these risks may also affect ParentCo — these risks can be found in Iris’s Annual Report on Form 10-K, as updated by subsequent Quarterly Reports on Form 10-Q, all of which are filed with the SEC. Please see the section entitled “Where You Can Find More Information” in this proxy statement/prospectus. Unless otherwise indicated, reference in this section and elsewhere in this proxy statement/prospectus to Liminatus’s business being adversely affected, negatively impacted or harmed will include an adverse effect on, or a negative impact or harm to, the business, reputation, financial condition, results of operations, revenue and future prospects of ParentCo. As used in the risks described in this subsection, references to “we,” “us” and “our” are intended to refer to Iris, unless the context clearly indicates otherwise.

### Risks Related to Liminatus’s Business and Operations
In addition to the other information included in this proxy statement/prospectus, the considerations listed below could have a material adverse effect on Liminatus’s business, financial condition or results of operations, cash flows, or ability to pay dividends, future prospects, or financial performance. The risks set forth below comprise all material risks currently known to Liminatus. These factors should be considered carefully, together with the information and financial data set forth in this proxy statement/prospectus.

Unless the context otherwise requires, all references in this subsection to “Liminatus,” “we,” “us” or “our” refer to the business of Liminatus Pharma, LLC, prior to Closing, which will be the business of Liminatus Pharma, Inc. following Closing. The occurrence of one or more of the events or circumstances described in these risk factors, alone