Company: LIMN
Filing Date: 2025-06-24
Form Type: S-1
Source: 0001410578-25-001432
Chunk: 227

Company: Liminatus Pharma, Inc.
Filing Date: 2025-06-24
Form: S-1
Chunk 227
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 failure to close the Iris Business Combination. The Ewon September 2023 Loan has the option to purchase $ 0.2million of preferred membership interest in the Company for repayment at the closing of the Iris Business Combination. On December 19, 2023, the Company and Ewon entered into an additional loan agreement and the Company borrowed $ 1.0million (the “Ewon December 2023 Loan”). The Ewon December 2023 Loan bears no interest. As of March 31, 2025 and December 31, 2024, the balance of $ 3.2million of the Ewon loans is recorded in short-term debt, related parties in the unaudited condensed balance sheets (see Note 5). As of March 31, 2025 and December 31, 2024, the related accrued interest of the loans from Ewon was $ 0.1million, 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, interest expense related to the Ewon loans was approximately $ 0.1million, respectively. See Note 5 for discussion related to notes which have passed their maturity dates.

<div align='center'>F-30</div>

Prophase Loans On September 7, 2023, the Company entered into a short-term loan agreement with Prophase Sciences LLC (“Prophase”), a related party of the Company (the “Prophase Loan”). The loan stipulates that $ 0.1million would be loaned immediately, and an additional $ 0.2million would be loaned within a month from the date of the loan agreement. The Prophase Loan bears no interest and is payable by the first anniversary of the month of the loan agreement. The Company repaid the $ 0.1million on September 12, 2023. On December 11, 2023, the Company borrowed an additional $ 0.2million from Prophase. The loan bears no interest and was due on or before December 21, 2024 or upon failure to close the Iris Business Combination. The Company repaid the $ 0.2million on December 21, 2023. On February 26, 2024, the Company borrowed an additional $ 0.2million from Prophase (the “Prophase February 2024 Loan”). The loan bears 6% interest per