Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 61

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 61
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 (a) SPAC Merger Sub will merge with and into Iris, with Iris surviving the SPAC Merger as a wholly-owned subsidiary of ParentCo, and (b) Liminatus Merger Sub will merge with and into Liminatus, with Liminatus surviving the Liminatus Merger as a wholly-owned subsidiary of ParentCo. The aggregate consideration to be paid in the Transactions to the direct and indirect owners of Liminatus will consist of 17.5 million shares of ParentCo’s common stock. The number of shares comprising the equity consideration was determined based on a $10.00 per share value for ParentCo’s common stock.

Pursuant to the Business Combination Agreement: (i) immediately prior to the Effective Time, every issued and outstanding Iris Unit will be automatically separated and broken out into its constituent parts and the holder thereof shall be deemed to hold one Iris Class A Share and one-fourth of one whole Public Warrant, and such underlying constituent securities of Iris shall be converted in accordance with the applicable terms of the Business Combination Agreement, and in accordance with the terms of the Warrant Agreement, no fractional Public Warrants shall be issued upon separation of the outstanding Iris Units, but shall instead be rounded down to the nearest whole Public Warrant, (ii) at the Effective Time, each issued and outstanding Iris Class A Share will be converted automatically into and thereafter represent the right to receive one share of ParentCo Common Stock, following which all Iris Class A Shares will cease to be outstanding and will automatically be canceled and will cease to exist, and the holders of certificates previously evidencing Iris Class A Shares outstanding immediately prior to the Effective Time will cease to have any rights with respect to such shares, except as provided in the Business Combination Agreement or by applicable Law, and each certificate formerly representing Iris Class A Shares will thereafter represent only the right to receive the relevant amount for such Iris Class A Shares in accordance with the applicable provisions of law and Iris’s governing documents, (iii) at the Effective Time, each issued and outstanding Public Warrant will, in accordance with the terms of the Warrant Agreement, immediately and automatically

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represent a ParentCo Public Warrant, (iv) at the Effective Time, each issued and outstanding Private Placement Warrant, except those issued to Cantor, will be forfeited. In accordance with the terms of the Warrant Agreement, the Private Placement Warrants issued to Cantor shall immediately and automatically represent a ParentCo