Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 520

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 520
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19,273 | ​ | ​ | ​ | ​                | $ | 16,050 | ​ | ​ |

F-66

TABLE OF CONTENTS

#### LIMINATUS PHARMA, LLC

### NOTES TO CONDENSED FINANCIAL STATEMENTS

#### SEPTEMBER 30, 2024
<div align='center'>**(Unaudited)**</div>

As of September 30, 2024 and December 31, 2023, the Company’s outstanding debt agreements are all classified as current as all are past due with the exception of the Ewon December 2023 Loan, Prophase August 2024 Loans and approximately $0.6 million of the Hana Loans, which are due within one year. All of the loans are with related parties (see Note 4).

As the Company’s loans are with related parties, the Company and its related parties have mutually agreed to defer repayment of the past due loans until the completion of the Company’s business combination with Iris.

#### Note 6. Members’ Deficit
On May 20, 2018, the Company issued 10,000,000 Class A member units for $0.1 million to its Initial Member. On June 11, 2018, in connection with the Initial Member unit issuance, the Company granted equity-classified options to purchase 16,666,666 member units for $0.01 per unit to the Initial Member, which were exercised in April 2021 for $0.2 million in a non-cash transaction using the amounts in due to related parties.

In May 2022, the Company issued 8,400,000 new Class A member units for $4.2 million, or $0.50 per unit. In December 2022, in conjunction with the Valetudo Loans (see Note 4), the Company repurchased 1,400,000 of the Class A member units for $0.7 million, or $0.50 per unit.

In December 2022, the Company received license rights from Metavagen in exchange for 40,000,000 Class A membership units in the Company. The Metavagen License transaction was consummated as the Company has the right to use the license. In March 2023, the Company terminated the 40,000,000 of Class A membership units and the license rights with Metavagen.

In March 2023, the Company exchanged 78,555,554 of