Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 213

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 213
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0 million and $5.75 million, respectively, for legal, financial advisory and other professional fees. The Iris estimated transaction costs exclude the deferred underwriting fees described in Note 2(d) above.

For the Liminatus transaction costs:

•

$1.1 million was capitalized in deferred transaction costs and accrued in accounts payable and accrued expenses as of September 30, 2024; and

•

$5.0 million was reflected as a reduction of cash and capitalized and offset against the proceeds from the Business Combination as a decrease to additional paid-in capital.

For the Iris transaction costs:

•

$1.3 million was accrued by Iris in accounts payable and accrued expenses and recognized in expense as of September 30, 2024;

•

$1.3 million was recognized in expense and paid as of September 30, 2024;

•

$4.4 million was reflected as a reduction in cash; and

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•

$3.1 million was reflected as an adjustment to accumulated deficit as of September 30, 2024 which represents estimated Iris transaction costs less $2.6 million previously recognized in expense by Iris as of September 30, 2024. The costs expensed through accumulated deficit are included in the unaudited pro forma condensed combined statement of operations for the year ended December 31, 2023 as discussed in Note 2(dd) below.

(f)

Represents the PIPE Financing issuance of 1.5 million common shares at $10.00 per share generating gross proceeds of $15.0 million.

(g)

Reflects the transfer of Iris’s Class A common shares subject to possible redemptions as of September 30, 2024 to permanent equity.

(h)

Represents the conversion of each issued and outstanding share of Iris common stock for ParentCo Common Stock in the SPAC Merger.

(i)

Reflects the recapitalization of Liminatus Class A and Class B Member Units into 17,500,000 ParentCo common shares.

(j)

Reflects the elimination of Iris’s historical accumulated deficit after recording the transaction costs to be incurred by Iris as described in Note 2(e) above.

(k)

Reflects the reclassification of the public warrants’ derivative warrant liability of $0.1 million to equity as Iris’s public warrants are expected to be equity classified upon consummation of the Business Combination.

(l)

Reflects the forfeiture of 4,177,778 private warrants held by the