Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 37

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 37
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) the exercise of 7,735,555 ParentCo Warrants to purchase ParentCo’s common stock that will be outstanding following the Business Combination, or (ii) any equity awards that may be issued under the proposed Incentive Plan following the Business Combination. If the actual facts are different than these assumptions (which is likely), the ownership percentages held by each of our existing stockholders, Sponsor, Iris’s independent directors, Cantor and the Liminatus Members will be different. (2) Assumes no additional stockholders exercise redemption rights.

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(3)

Assumes that an additional 50%, or 87,238, shares of Iris Class A Common Stock are redeemed for cash.

(4)

Number of shares determined based on a price of $10.00 per share. Such price is subject to adjustment based on the five day volume-weighted average price prior to the filing of a resale registration statement covering such shares.

Q:

Will Iris obtain new financing in connection with the Business Combination?

A:

Yes. Concurrently with the execution of the Business Combination Agreement, and pursuant to the PIPE Equity Subscription Agreement, the PIPE Investor has committed to purchase 1,500,000 shares of ParentCo Common Stock at a purchase price per share of $10.00, for an aggregate purchase price of $15,000,000. The parties to the PIPE Equity Subscription Agreement entered into amendments to such agreement on August 14, 2023, March 9, 2024, July 23, 2024, August 16, 2024, October 31, 2024 and December 26, 2024 to, among other things, extend the date the PIPE Investor can terminate such agreement.

For a summary of the material terms of the PIPE Equity Subscription Agreement, see the section entitled “Proposal No. 1 — The Business Combination Proposal — Additional Agreements Executed at the Signing of the Business Combination Agreement ” for more information.

**Q:

What conditions must be satisfied to complete the Transactions?

A:

There are a number of closing conditions in the Business Combination Agreement, including that our stockholders have approved the Transactions and adopted the Business Combination Agreement. For a summary of the conditions that must be satisfied or waived prior to completion of the Transactions, see the section entitled “ Proposal No. 1 — The Business Combination Proposal .”

Q:

Why is Iris proposing the Incentive Plan Proposal?

A:

The purpose of the Incentive Plan is to provide eligible employees