Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 211

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 211
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 30, 2024 and the related notes, which are included elsewhere in this proxy statement/ prospectus.

The unaudited pro forma combined statement of operations as of and for the year ended December 31, 2023 have been derived from and should be read in conjunction with the following:

•

the historical audited financial statements of Iris as of and for the year ended December 31, 2023 and the related notes, which are included in the Iris 2023 10-K, which are included elsewhere in this proxy statement/prospectus; and

•

the historical audited financial statements of Liminatus as of and for the year ended December 31, 2023 and the related notes, which are included elsewhere in this proxy statement/prospectus.

The unaudited pro forma combined financial information should also be read together with the sections of the Iris September 2024 10-Q, Iris 2023 10-K, the financial statements of Liminatus as of and for the nine months ended September 30, 2024, the financial statements of Liminatus as of and for the year ended December 31, 2023 and the section of this proxy statement/prospectus entitled “Iris’s Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and “Liminatus’s Management’s Discussion and Analysis of Financial Condition and Results of Operations,” as well as other financial information included elsewhere in this proxy statement/prospectus.

Management has made significant estimates and assumptions in its determination of the pro forma adjustments. As the unaudited pro forma combined financial information has been prepared based on these preliminary estimates, the final amounts recorded may differ materially from the information presented.

Certain transactions, specifically the transaction expenses recognized by Iris and Liminatus in the pro forma transaction accounting adjustments for the nine months ended September 30, 2024 and the year ended December 31, 2023 are not expected to recur in the statement of operations of the combined entity subsequent to the consummation of the business combination. Furthermore, while the Combined Company would be subject to tax at the corporate level subsequent to the consummation of the Business Combination, the Company would be in a net loss position. This position would result in a deferred tax asset, which has been determined to not be more likely than not to be realized. Thus, the Combined Company would not have

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an income tax benefit. Accordingly, no adjustments for the