Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 45

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 45
---
 date, there were 7,074,477 shares of Iris Class A Common Stock, 6,900,000 Public Warrants and 5,013,333 Iris Private Placement Warrants to purchase Iris Class A Common Stock outstanding. To achieve a quorum, 3,537,239 shares of Common Stock held by stockholders on the record date will be required to be present in person or by proxy.

Q:

Did the Iris Board obtain a third-party fairness opinion in determining whether or not to proceed with the Business Combination?

A:

No. The Iris Board did not obtain a third-party fairness opinion in respect of the proposed Business Combination. Consequently, you have no assurance from an independent source that the price proposed to be paid for Liminatus is fair from a financial point of view.

Q:

How will the initial stockholders and Iris’s directors and officers vote?

A:

The Sponsor, officers and directors have agreed to: (i) waive their redemption rights with respect to any Founder Shares and public shares they hold in connection with the completion of the initial business combination, (ii) waive their redemption rights with respect to their Founder Shares and public shares in connection with a stockholder vote to approve an amendment to the Iris Certificate of Incorporation, (iii) waive their rights to liquidating distributions from the Trust Account with respect to any Founder Shares they hold if Iris fails to complete the initial business combination within required time period, and (iv) vote any Founder Shares held by them and any public shares purchased during or after the IPO in favor of the initial business combination.

Q:

What interests do Iris’s current officers and directors have in the Business Combination?

A:

The Sponsor, Iris’s officers and directors and/or their affiliates beneficially own Founder Shares or warrants that they purchased prior to, or simultaneously with, Iris’s initial public offering. The Sponsor and Iris’s executive officers, directors and their affiliates have no redemption rights with respect to these securities in the event a business combination is not effected in the required time period. 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, and may incur reimbursable expenses that may not be reimbursed or repaid if the transactions are not approved. Such interests may have influenced their decision