Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 214

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 214
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 Sponsor immediately prior to the Business Combination resulting in a net decrease to the derivative warrant liability of $0.1 million with an offset to additional paid-in capital. The remaining outstanding private warrants issued in connection with Iris’s initial public offering, are not exercisable until 30 days after the Closing, as such, the warrant liability has not been adjusted for these private warrants.

(m)

Represents the effective settlement of $10.0 million of Liminatus’s short-term debt upon the issuance of ParentCo common shares in the recapitalization reflected in Note 2(i) above.

(n)

Represents the settlement of Iris’s related party promissory note, including the associated derivative liability, upon the consummation of the Business Combination, in cash.

(o)

Reflects the settlement of the promissory note between Iris and Liminatus upon the closing of the Business Combination

(p)

Represents fees to be paid to Benjamin Securities, Inc. pursuant to a Capital Markets Advisory Agreement whereby Benjamin Securities, Inc. will assist ParentCo in meeting the initial listing standards of Nasdaq.

(q)

Reflects the maximum redemption of 174,477 Iris Class A Common Stock at a redemption price of approximately $11.09 per share, totaling approximately $1.9 million (includes market appreciation and interest on the marketable securities and/or balances held in the Trust).

(r)

Represents estimated excise taxes of approximately $0.02 million of additional excise taxes assuming maximum redemptions.

Transaction Accounting Adjustments to Unaudited Pro Forma Combined Statement of Operations

The transaction accounting adjustments included in the unaudited pro forma combined statement of operations for the nine months ended September 30, 2024 and year ended December 31, 2023 are as follows:

(aa) Reflects an adjustment to eliminate interest income related to the Trust Account.

(bb)

Reflects the elimination of the change in fair value of the public warrants, which are expected to be reclassified to permanent equity upon the closing of the Business Combination, as discussed in Note 2(k) above.

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(cc) Reflects the elimination of the change in fair value of the 4,177,778 forfeited private warrants. (dd) Reflects preliminary estimated Iris transaction costs that will be expensed upon the closing of the Business Combination, as discussed in Note 2(e) above. These costs are reflected as if incurred on January 1, 2023, the date the Business