Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 287

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 287
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 value of the ParentCo Common Stock received by such U.S. holder in the SPAC Merger and (ii) such U.S. holder’s adjusted tax basis in our common stock exchanged. A U.S. holder would have an aggregate tax basis in any ParentCo Common Stock received in the SPAC Merger that is equal to the fair market value of such ParentCo Common Stock as of the effective date of the SPAC Merger, and the holding period of such ParentCo Common Stock would begin on the day following the SPAC Merger.

Tax Consequences of the Business Combination to Holders of Public Warrants. The warrants are currently exercisable for one share each of our common stock and will be exchanged in the SPAC Merger for ParentCo warrants exercisable for one share each of ParentCo Common Stock following the Business Combination.

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If the SPAC Merger qualifies as a tax-deferred reorganization under Section 368 of the Code, a holder of Public Warrants would not recognize any gain or loss on the exchange of Public Warrants for ParentCo warrants pursuant to the SPAC Merger and such holder’s basis in the ParentCo warrants received would be equal to the holder’s basis in its Public Warrants exchanged. In addition, the holding period of the ParentCo warrants received in the SPAC Merger by such holder would include the period during which the surrendered Public Warrants were held on the date of the SPAC Merger.

If the SPAC Merger does not qualify as a tax-deferred reorganization under Section 368 of the Code, a holder of Public Warrants that does not also own our common stock would recognize gain or loss in an amount equal to the difference between the fair market value of the ParentCo warrants received and such holder’s tax basis in the Public Warrants exchanged. If the SPAC Merger does not so qualify (but the Business Combination transactions qualify as a tax-deferred transaction under Section 351 of the Code), a holder of Public Warrants holding our common stock generally would recognize gain, but not loss, equal to the lesser of (i) such stockholder’s “realized gain” from the exchange (generally the excess of the sum of the fair market value of the ParentCo Common Stock and ParentCo warrants received over such stockholder’s aggregate tax basis in our common stock and Public Warrants exchanged therefor), and (ii) the fair market value of the ParentCo warrants received