Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 335

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 335
---
 the Iris Board). Iris’s stockholders approved the amendments to the Iris Certificate of Incorporation at the special meeting on December 20, 2024. On December 26, 2024, Iris filed with the Secretary of State of the State of Delaware an amendment to its amended and restated certificate of incorporation to change the date by which it must consummate a business combination to March 31, 2025 (subject to an additional three month extension at the discretion of the Iris Board).

On December 26, 2024, the parties to the Business Combination Agreement amended the Business Combination Agreement to extend the Outside Date to June 30, 2025. Also on December 26, 2024, the parties to the Subscription Agreement entered into an amendment to such agreement to extend the termination date of the agreement to June 30, 2025.

### Results of Operations
Iris has neither engaged in any operations nor generated any revenues to date. Iris’s only activities for the period from November 5, 2020 (inception) through September 30, 2024 were organizational activities, those necessary to prepare for Iris’s initial public offering, and identify a target company for its initial business combination. Iris generates non-operating interest income from cash and cash equivalents and marketable securities held in the Trust Account and changes in the value of warrant liabilities. Iris incurs expenses as a result of being a public company (for legal, financial reporting, accounting and auditing), as well as for due diligence expenses. Iris will not generate any operating revenues until the closing and completion of its initial business combination.

For the three months ended September 30, 2024, Iris had a net loss of $642,900, which consisted of $1,019,694 of formation and offering costs and provision for income taxes of $5,163, which are offset by a $348,971 gain on the change in fair value of warrants, and interest income on investments held in the Trust Account of $32,986.

For the three months ended September 30, 2023, Iris had a net loss of $323,891, which consisted of an unrealized loss on fair value of warrants of $45,822, formation and offering costs of $676,321, and provision for income taxes of $23,601 partially offset by $421,853 of interest income on marketable securities held in the Trust Account.

For the nine months ended September 30, 2024, Iris had a net loss of