Company: LIMN
Filing Date: 2025-06-24
Form Type: S-1
Source: 0001410578-25-001432
Chunk: 336

Company: Liminatus Pharma, Inc.
Filing Date: 2025-06-24
Form: S-1
Chunk 336
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 December 31, 2023 | ​ 
 ​ |
|:------------------------------------------------|:--|:------------------|:--|
| Risk-free rate for debt                         | ​ | 4.39 - 5.56       | % |
| Expected term (years)                           | ​ | 0.25 - 0.52       |   |
| Likelihood of completing a business combination |   | 8.88 - 11.68      | % |

F-99

The change in the fair value of the warrant and derivative liabilities classified as Level 3 for the year ended December 31, 2024 and 2023 is summarized as follows:

| ​                                
 ​                                | ​ 
 ​ | ​                   
 Warrant Liabilities |        ​ | ​ 
 ​ | ​                    
 Derivative Liability |        ​ | ​ 
 ​ |
|:---------------------------------|:--|:--------------------|---------:|:--|:---------------------|---------:|:--|
| Fair value at December 31, 2022  | ​ | $                   |  418,246 | ​ | $                    |        — | ​ |
| Issuance of derivative liability | ​ | ​                   |        — | ​ | ​                    |  104,428 | ​ |
| Change in fair value             | ​ | ​                   | -249,492 | ​ | ​                    | -102,226 | ​ |
| Fair value at December 31, 2023  | ​ | $                   |  168,754 | ​ | $                    |    2,202 | ​ |
| Change in fair value             | ​ | ​                   |  -18,354 | ​ | ​                    |   -2,202 | ​ |
| Fair value at December 31, 2024  | ​ | $                   |  150,400 | ​ | $                    |        — | ​ |

NOTE 11. SEGMENT INFORMATION

ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statements information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker (“CODM”), or group, in deciding how to allocate resources and assess performance.

The Company is a blank check company formed for the purpose of effecting a Business Combination. As of December 31, 2024, the