Company: LIMN
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001410578-25-001746
Chunk: 0

Company: Liminatus Pharma, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 0
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Filed Pursuant to Rule 424(b)(3) Registration No. 333-288289

| PROSPECTUS | ​ |

LIMINATUS PHARMA, INC. 20,454,961 Shares of Common Stock 6,900,000 Shares of Common Stock Underlying Public Warrants Liminatus Pharma, Inc. (formerly known as Iris Parent Holding Corp.), a Delaware corporation (the “Company,” “ParentCo” or “we”) is registering for resale by certain selling securityholders named herein (the “Selling Securityholders”) up to 20,454,961 shares of our common stock, $0.0001 par value per share (“Common Stock”), consisting of (a) 10,169,406 shares of Common Stock issued as merger consideration shares in connection with the Liminatus Merger (as defined below), which shares were issued at a deemed value of $10.00 per share pursuant to the terms of the Business Combination Agreement (as defined below); (b) 6,900,000 shares of Common Stock issued to the Sponsor (as defined below) upon conversion of the founder shares issued to the Sponsor prior to the IPO (as defined below), which shares were purchased by the Sponsor at a price per share of $0.004; (c) 1,500,000 shares of Common Stock issued to PIPE Investor (as defined below) pursuant to the PIPE Equity Subscription Agreement (as defined below); (d) 835,555 shares of Common Stock issuable upon the exercise of 835,555 private warrants (the “Private Warrants”), which were originally issued concurrently with the IPO in a private placement to Cantor (as defined below) at a price of $1.50 per warrant, with each warrant exercisable for one share of Common Stock at $11.50 per share; (e) up to 700,000 shares of Common Stock issued to Cantor in settlement of $7.0 million in deferred underwriting fees; and (f) up to 350,000 shares of Common Stock issued to Alta Partners, LLC (“Alta”) pursuant to a settlement and release agreement. See “Selling Securityholders” for the details of these securities. In addition, this prospectus relates to the issuance by us of up to 6,900,000 shares of Common Stock that are issuable upon the exercise of the public warrants at an exercise price per share of $11.50 (the “Public Warrants,” and together with the