Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 237

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 237
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 on the company and prepared a proforma deal structure for discussion with the management of the company. The company eventually decided to further engage with another SPAC instead of Iris.

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On March 3, 2022, Iris engaged in preliminary discussions with an Australian company focused on food solutions. Target D, upon understanding the de-SPAC process, decided to not pursue this route as it was a longer process as opposed to their corporate strategy.

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On April 21, 2022, Iris initiated discussions with a trucking aggregator based out of the United Arab Emirates. After detailed negotiations on the deal mechanics, the company decided to remain private and pursue private funding rounds.

Target E: On June 17, 2022, Iris was introduced to Target E, an Israeli-based MedTech company.

On June 22, 2022, a non-disclosure agreement was signed with Target E. Subsequently, dataroom access was granted to the Iris team followed by detailed due diligence covering the company’s financials, patents, customer contracts, legal structure and management track record.

Both parties discussed the deal structuring in detail, including exploring PIPE or committed equity financing (“CEF”) routes. Iris identified and engaged with several parties to provide the target with CEF term sheets for assessment.

On September 13, 2022, the target and Iris signed a letter of intent listing out the deal terms. Iris organized calls between Target E and potential parties who were interested in providing CEF lines to the target.

On October 17, 2022, Target E decided to cancel the letter of intent following a board decision to keep the company private due to challenging market conditions as well as a desire to avoid the convertible structure route.

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TABLE OF CONTENTS

Target F (Liminatus): On October 25, 2022, Liminatus was brought to Iris by Cantor Fitzgerald as a potential business combination target. Following a preliminary assessment, Iris decided to initiate discussions with Liminatus.

On October 29, 2022, Iris had an introductory call with Liminatus to obtain an understanding of Liminatus, its history, business model, products and the leadership. Iris also introduced itself and its purpose to Liminatus.

On October 30, 2022, Iris and Liminatus executed a non-disclosure agreement and Liminatus granted Iris data room access to commence due diligence.

On November 1, 2022, following an initial assessment of the data room