Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 73

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 73
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 Business Combination Effective as of the closing, the ParentCo Board will consist of four members, of which the following three members will be designated by Liminatus: Mr. Chris Kim, Dr. Eun Sook Lee and Dr. Ji Yeon Baek, and one member will be designated by Iris: Nicholas Fernandez. For additional information, see the section entitled “Management of ParentCo Following the Business Combination . ” Tax Considerations For a detailed discussion of the material U.S. federal income tax consequences of the Business Combination, please see the section entitled “ Material U.S. Federal Income Tax Considerations .” Expected Accounting Treatment of the Business Combination The Business Combinations will be accounted for as a reverse recapitalization, with no goodwill or other intangible assets recorded in accordance with accounting principles generally accepted in the United States (“GAAP”). Under this method of accounting, Iris will be treated as the “acquired” company for financial reporting purposes. Accordingly, for accounting purposes, the Business Combinations will be treated as the equivalent of Liminatus issuing stock for the net assets of Iris, accompanied by a recapitalization. The net assets of Iris will be stated at historical cost, which approximates fair value, with no goodwill or other intangible assets recorded. Operations prior to the Business Combinations will be those of Liminatus. Appraisal Rights Appraisal rights are not available to holders of Iris common stock in connection with the Business Combination. Regulatory Approvals The Business Combination and the transactions contemplated by the Business Combination Agreement are not subject to any additional regulatory requirement or approval, except for filings required with the SEC pursuant to the reporting requirements applicable to Iris, and the requirements of the Securities Act and the Exchange Act, including the requirement to file the registration statement of which this proxy statement/ prospectus forms a part and to disseminate it to its stockholders. Sources and Uses of Funds The following tables summarize the sources and uses for funding the Business Combination, assuming none of Iris’s outstanding shares of Iris Class A Common Stock are redeemed in connection with the Business Combination.

| Sources of funds                          | ​ | ​ | $ Millions |   |      |   | ​ |
|:------------------------------------------|:--|:--|:-----------|:--|-----:|:--|:--|
| SPAC Cash in Trust                        | ​ | ​ | ​          | $ |  1.9 | ​ | ​ |
| Cash on Balance Sheet                     | ​ | ​ | ​          | ​ |  0.4 |