Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 87

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 87
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 the Business Combination or another qualifying business combination or an amendment the Iris Certificate of Incorporation by stockholder approval is not completed March 31, 2025 (subject to an additional three month extension at the discretion of the Iris Board);

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TABLE OF CONTENTS

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the fact that pursuant to the Lock-Up Agreement, the Sponsor and certain other stockholders agree that they will not Transfer any Lock-up Shares until the end of the Lock-up Period, except as permitted by and in accordance with the Lock-Up Agreement;

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the fact that the Sponsor and Iris’s officers and directors will hold 6,900,000 shares of ParentCo Common Stock following the Business Combination, the aggregate value of which is estimated to be approximately $77,418,000, assuming the per share value of the ParentCo Common Stock is the same as the $11.22 per share closing price of Iris’s Class A Common Stock on the OTC Pink Marketplace as of January 2, 2025;

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the fact that the Sponsor will benefit from completion of the Business Combination and may be incentivized to complete an acquisition of a less favorable target company or on terms less favorable to stockholders, rather than liquidate;

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the continued indemnification, advancement of expenses, exculpation, maintenance of director’s and officer’s “tail” insurance, and other limitations on liability of Iris’s existing directors and officers after the Business Combination until the sixth (6th) anniversary of the Closing Date;

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the fact that on December 13, 2024, the Company was notified that on July 24, 2024, Hana Immunotherapeutics, LLC, an affiliate of Chris Kim, the Chief Executive Officer of Liminatus, agreed to loan the buyer of the former managing member of the Company’s Sponsor approximately $1.216 million, to facilitate the acquisition of the former managing member (the “Acquisition”). As a result of the Acquisition, the former managing member, Columbass Limited, resigned as managing member of the Sponsor on October 30, 2024, and Iris Equity Holdings LLC was appointed as managing member of the Sponsor. Other than repayment of the principal and interest on the loan, which has been settled through the delivery of shares in a private Korean company, Mr. Kim has stated that he has no affiliation or other relationship with the Sponsor, any of the Sponsor’s members, including the former and new managing member or the buyer of the former managing member of our Sponsor; and

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