Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 212

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 212
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 income tax impact of any transaction accounting adjustments have been reflected.

The pro forma adjustments reflecting the consummation of the Business Combination are based on information available as of the date of this proxy statement/prospectus and certain assumptions and methodologies that management believes are reasonable under the circumstances. The unaudited condensed pro forma adjustments, which are described in these notes, may be revised as additional information becomes available and is evaluated. Therefore, the actual adjustments may materially differ from the pro forma adjustments that appear in this proxy statement/prospectus. The unaudited pro forma combined financial information does not reflect the income tax effects of the pro forma adjustments as based on the statutory rate in effect for the historical periods presented, as management believes income tax adjustments to not be meaningful given the combined entity incurred significant losses during the historical periods presented. Management considers this basis of presentation to be reasonable under the circumstances.

#### 2.
**Transaction Accounting Adjustments to Unaudited Pro Forma Combined Financial Information**

Transaction Accounting Adjustments to Unaudited Pro Forma Combined Balance Sheet

The transaction accounting adjustments included in the unaudited pro forma condensed combined balance sheet as of September 30, 2024, are as follows:

(a)

Reflects actual redemptions of 64,453 shares of common stock by public stockholders for an aggregate payment of approximately $0.7 million in connection with the special meeting held by Iris on December 26, 2024 to approve the extension of the time to complete a business combination until June 30, 2025.

(b)

To record additional advances under the Liminatus promissory note of $800,000 that occurred after September 30, 2024.

(c)

Reflects the liquidation and reclassification of cash and investments held in the Trust Account (as defined in this proxy statement) that became available for general corporate use following the Business Combination.

(d)

Reflects the settlement of $9.7 million in deferred underwriting fees, of which $7.0 million will be settled in Iris common shares (700,000 shares at $10.00 per share), $1.0 million will be settled in cash and $1.7 million was waived and no longer payable and was reflected as an increase to additional paid-in capital. The share 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.

(e)

Represents preliminary estimated transaction costs to be incurred by Liminatus and Iris of $5.