Company: LIMN
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001410578-25-001518
Chunk: 235

Company: Liminatus Pharma, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 235
---
 per annum, compounded annually, and were due on October 30, 2021. In connection with the issuance of the Feelux Bonds, the Company issued 6,666,666equity-classified warrants to purchase member units at a price of $ 1.50per unit, which expired on June 30, 2023. The fair value of the warrants to purchase member units of $ 6.4million was estimated using the option pricing framework on the issuance date. The Company’s assumptions included (a) its expected stock volatility of 82.0% based on the historical volatility of a publicly traded set of peer companies, (b) the contractual term of five years, (c) the risk-free interest rate of 2.9% based on the U.S. Treasury yield curve in effect at the time of grant of the award for a five-yearcontractual term and (d) noexpected dividends. The $ 10.0million of proceeds from the Feelux Bonds were allocated to the bonds and warrants using the relative fair value method resulting in a debt discount for the relative fair value of the warrants of $ 4.5million that was amortized to interest expense over the term of the Feelux Bonds using the effective interest method using an effective interest rate of 21.0%. As of March 31, 2025 and December 31, 2024, the Feelux Bonds have a carrying amount of $ 10.0million and are included in short-term debt, related parties in the unaudited condensed balance sheets. As of March 31, 2025 and December 31, 2024, the related accrued interest of the Feelux Bonds was $ 0.7million and $ 0.6million, respectively, and is included in accrued interest, related parties in the unaudited condensed balance sheets. For the three months ended March 31, 2025 and 2024, the Company recorded less than $ 0.1million, respectively, of interest expense in the unaudited condensed statements of operations for the Feelux Bonds. The debt discount was fully amortized prior to the year ended December 31, 2021 (see Note 5). See Note 5 for discussion related to bonds which have passed their maturity dates. Car-Tcellkor Loan On May 18, 2019, the Company borrowed $ 0.8million from its parent at the time of the loan, Car- Tcellkor (the “