Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 395

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 395
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 at the closing because these securities are not exercisable within 60 days of this proxy statement/prospectus. Shares of common stock issuable pursuant to options or warrants are deemed to be outstanding for purposes of computing the beneficial ownership percentage of the person or group holding such options or warrants but are not deemed to be outstanding for purposes of computing the beneficial ownership percentage of any other person.

In the table below, beneficial ownership of Iris before the Business Combination is based on 7,074,477 shares of Iris Class A Common Stock outstanding as of January 2, 2025. The table below does not include the shares of Iris Class A Common Stock underlying the private placement warrants or the Public Warrants because these securities are not exercisable within 60 days of January 2, 2025.

The expected beneficial ownership percentages set forth in the table below with respect to ParentCo Common Stock following the Business Combination do not take into account: (i) the issuance of any shares (or options to acquire shares) under the Incentive Plan, (ii) the issuance of any shares upon the exercise of warrants to purchase up to a total of 6,900,000 shares of ParentCo Common Stock that will be outstanding following the Business Combination or (iii) the issuance of shares upon the exercise of 835,555 Private Warrants outstanding held by Cantor. If the actual facts are different than these assumptions (which they are likely to be), the percentage ownerships in ParentCo will be different.

Unless otherwise indicated, we believe that all persons named in the table have sole voting and investment power with respect to all shares of common stock owned by them.

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TABLE OF CONTENTS

| ​                                                                                                                  | ​ | ​ | Iris Before the Business Combination |   |              |   |   |   |                 |   |       |   | ​ | ​ | ParentCo After the Business Combination |   |           |   |   |   |         |   |       |   |   |   |                               |   |           |   |   |   |         |   |       |   | ​ |
| ​                                                                                                                  | ​ | ​ | Iris Class ACommon Stock             |   |              |   |   |   |                 |   |       |   | ​ | ​ | Assuming NoRedemption                   |   |           |   |   |   |         |   |       |   | ​ | ​ | Assuming MaximumRedemption(6) |   |