Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 393

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 393
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 efforts to cause the same to become effective within 120 days after the closing of the Business Combination and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the warrants in accordance with the provisions of the Warrant Agreement (as amended by the Warrant Amendment). Notwithstanding the above, if our shares of ParentCo Common Stock are, at the time of any exercise of a warrant, not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, we may, at our option, require holders of public warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event we so elect, we will not be required to file or maintain in effect a registration statement, but will use our commercially reasonable efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. In such event, each holder would pay the exercise price by surrendering the warrants for that number of shares of ParentCo Common Stock equal to the lesser of (A) the quotient obtained by dividing (x) the product of the number of shares of ParentCo Common Stock underlying the warrants, multiplied by the excess of the “fair market value” (defined below) less the exercise price of the warrants by (y) the fair market value and (B) 0.361. The “fair market value” as used in the preceding sentence shall mean the volume weighted average price of the shares of ParentCo Common Stock for the 10 trading days ending on the trading day prior to the date on which the notice of exercise is received by the warrant agent.

#### Private Warrants
At Closing, there will be 835,555 Private Warrants outstanding held by Cantor. Each Private Warrant entitles the holder to purchase one share of common stock at a price of $11.50 per share. If Iris does not complete a business combination by March 31, 2025 (subject to an additional three month extension at the discretion of the Iris Board), the Private Warrants will expire worthless.

Under the Sponsor Forfeiture Agreement between the Sponsor and Iris and Liminatus, the Sponsor has agreed to forfeit 4,177,778 of its Private Placement Warrants at Closing.

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The Private Warrants are identical