Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 311

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 311
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If the Business Combination is not consummated, shares submitted for redemption will not be redeemed for cash.

Holders of warrants will not have redemption rights with respect to the warrants.

### Liquidation if No Business Combination
Iris will have only 51 months from the closing of the IPO to complete the initial business combination. However, if Iris is unable to complete the initial business combination or amend the Iris Certificate of Incorporation within that time period, Iris will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (which interest shall be net of all applicable taxes payable from the Trust Account and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish the public stockholders’ rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of Iris’s remaining stockholders and the Iris Board, liquidate and dissolve, subject, in each case, to Iris’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.

Pursuant to the Letter Agreement, the Sponsor, officers and directors have waived their rights to liquidating distributions from the Trust Account with respect to any Founder Shares held by them if Iris fails to complete a business combination or amend the Iris Certificate of Incorporation by March 31, 2025 (subject to an additional three month extension at the discretion of the Board). However, if the Sponsor or Iris’s management team acquires Iris Class A Common Stock in or after the IPO, they will be entitled to liquidating distributions from the Trust Account with respect to such Iris Class A Common Stock if Iris fails to complete a business combination or amend the Iris Certificate of Incorporation by March 31, 2025 (subject to an additional three month extension at the discretion of the Board). Such Letter Agreement will be terminated at closing.

Also pursuant to the Letter Agreement, the Sponsor, officers and directors have agreed that they will not propose any amendment to the Iris Certificate of Incorporation: (i) to modify the substance or timing of Iris’s obligation to redeem 100% of