Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 183

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 183
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 rights with respect to these securities in the event a business combination is not effected in the required time period. Therefore, if the Business Combination or another business combination is not approved within the required time period, such securities will be worthless. Additionally, the Sponsor, Iris’s officers, directors, and any of their respective affiliates are entitled to reimbursement of out-of-pocket expenses incurred by them in connection with certain activities on Iris’s behalf, such as identifying and investigating possible business targets and business combinations. Any such payments prior to the Business Combination will be made from: (i) funds held outside the Trust Account or (ii) interest earned on the Trust Account and released to Iris to pay its taxes. As of September 30, 2024, Iris’s officers, directors, initial stockholders and their affiliates had incurred approximately $1,453,720 for working capital purposes of which approximately $1,453,720 is payable at the closing of the Business Combination. Furthermore, in order to finance transaction costs in connection with an intended business combination, the Sponsor or an affiliate of the Sponsor or certain of Iris’s officers and directors may, but are not obligated to, loan Iris funds as may be required. These loans will be due and payable in full immediately if Iris does not complete the Business Combination. However, the Sponsor retains the right to waive the loan repayment at its discretion. Please see the sections entitled “ Proposal No. 1 — The Business Combination Proposal — Interests of Certain Persons in the Business Combination ” and “ Certain Relationships and Related Transactions — Iris’s Related Party Transactions — Founder Shares ” for more information.

These financial interests may have influenced the decision of Iris’s directors and officers to approve the Business Combination and to continue to pursue such Business Combination. In considering the recommendations of the Iris Board to vote for the Business Combination Proposal and other proposals, its stockholders should consider these interests.

Since the Sponsor will lose its entire investment in Iris if a business combination is not completed (other than with respect to public shares it may acquire), a conflict of interest may arise in determining whether the Business Combination, or an alternative initial business combination, is appropriate for Iris’s business combination.

In December 2020, our sponsor paid $25,000 to cover certain of our offering costs in exchange for 5,750,000 Founder Shares, or approximately $0.004 per share. In February 2021, we effected a stock dividend of 0.2 shares for each Founder Share outstanding, resulting in our sponsor holding an aggregate of 6,900,