Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 337

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 337
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 Agreement amended the Business Combination Agreement to extend the Outside Date from September 30, 2023 to March 9, 2024.

On September 7, 2023, the Company filed with the Secretary of State of the State of Delaware an amendment to the Iris Certificate of Incorporation to: (i) change the date by which the Company must consummate a business combination from September 9, 2023 to December 9, 2023 (subject to an additional three month extension at the discretion of the Iris Board); (ii) to remove from the charter the limitation on share repurchases prior to the consummation of a business combination that would cause the Company’s net tangible assets to be less than $5,000,001 following such repurchases, and the limitation that the Company shall not consummate a business combination if it would cause the Company’s net tangible assets to be less than $5,000,001 either immediately prior or subsequent to the consummation of such business combination; and (iii) to amend the charter to provide for the right of a holder of shares of the Class B common stock of the Company, par value $0.0001 per share, to convert such shares into shares of the Iris Class A Common Stock on a one-for-one basis prior to the closing of a business combination. The Company’s stockholders approved the amendments to the Iris Certificate of Incorporation at the special meeting on September 7, 2023.

In connection with the special meeting, stockholders holding 1,006,495 Public Shares properly exercised their right to redeem their shares for cash at a redemption price of $10.29 per share, subject to adjustment for applicable taxes, including, but not limited to, franchise tax, excise tax and income tax, for an aggregate redemption amount of $10,358,754. Following such redemptions, 406,609 Public Shares remained outstanding.

On September 25, 2023, the Sponsor converted all of its Class B common stock on a one-for-one basis into Iris Class A common stock (such shares, the “Converted Shares”). The Sponsor will not have any redemption rights in connection with the Converted Shares, and the Converted Shares will be subject to the restrictions on transfer entered into by the Sponsor in connection with the IPO.

On December 5, 2023, the Iris Board held a meeting and extended the date by which the Company must consummate a Business Combination for a three month period from December 9, 2023 to