Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 537

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 537
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 Loans, the Ewon September 2023 Loan, the Valetudo November 2023 Loan, and the Ewon December 2023 Loan are with related parties (see Note 4). The TDT Loan — CAR-T products and TDT Loan — Vaccine Products are related to the CAR-T License and the Vaccine License, respectively (see Note 3). In May 2022, the Company entered into a term note for $1.4 million with Ziebel, LLC, a related party of the Company, that bears interest at 3% and was due in July 2022. The note and interest were repaid in July 2022. In May 2022, the Company borrowed $2.3 million from a party that was not a related party of the Company during the year ended December 31, 2022. The loan does not bear interest and was repaid in July 2022. Note 6. Members’ Deficit In May 2022, the Company issued 8.4 million new Class A member units for $4.2 million, or $0.50 per unit. In December 2022, in conjunction with the Valetudo Loans (see Note 4), the Company repurchased 1.4 million of the Class A member units for $0.7 million, or $0.50 per unit. On May 20, 2018, the Company issued 10,000,000 Class A member units for $0.1 million to its Initial Member. On June 11, 2018, in connection with the Initial Member unit issuance, the Company granted equity-classified options to purchase 16,666,666 member units for $0.01 per unit to the Initial Member, which were exercised in April 2021 for $0.2 million in a non-cash transaction using the amounts in due to related parties.

F-83

TABLE OF CONTENTS

#### LIMINATUS PHARMA, LLC

### NOTES TO FINANCIAL STATEMENTSDECEMBER 31, 2023 AND 2022
In December 2022, the Company received license rights from Metavagen in exchange for 40,000,000 Class A membership units in the Company. The Metavagen License transaction was consummated as the Company has the right to use the license. In March 2023, the Company terminated the 40,000,000 of Class A membership units and the license rights with