Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 236

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 236
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 Multi Asset Fund — Arrow SP6 was admitted as a member of Tribe Arrow Holdings and appointed as the sole managing member of Tribe Arrow Holdings. The CEO, CFO and Secretary of Tribe Capital Growth, who were a part of the Tribe Capital team, resigned, along with an independent director. Following the transition, Tribe Capital Growth was renamed to Iris Acquisition Corp and changed its strategy to adopt a sector-agnostic approach with respect to deal sourcing, underwriting and selection criteria of potential business combination targets. Tribe Arrow Holdings was renamed Iris Acquisition Holdings LLC. Our Sponsor is

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owned by: (i) a private equity fund managed by Arrow and (ii) Iris Equity Holdings LLC. Iris Equity Holdings LLC is the managing member of our Sponsor.

Negotiations with potential target companies as Iris Acquisition Corp*

Post transition to Iris Acquisition Corp, Iris explored several other targets that fit its revised strategy. While several discussions to understand their respective businesses and potential deal terms took place between Iris and the management of these companies, none of them were provided a letter of intent by Iris. The companies included the following:

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A digital logistics company with strong 10-year track record that operated in the ASEAN and African markets. The company had built strong partnerships across the world servicing over 650 customers, most of whom were globally recognized names.

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A UK-based app management company that focused on mobile advertising and digital cybersecurity. However, the company required immediate cash and given the de-SPAC timeline, Iris and the company mutually agreed to end discussions.

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A South Asian fintech enabler that focused on providing e-wallet and remittance services to the unbanked and underbanked population through partnerships with banks, large corporates and MNCs. While the business model had great potential, it was not operationally ready to scale and would require several months to be PCAOB audit ready.

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A South Asian company focused on commercial production of bio-based polymers products for the fast-moving consumer goods sector. Iris engaged with the company and discussed possibilities of a de-SPAC. However, upon discussing internally with Iris’s advisors, the discussions were halted as the company’s PCAOB audit readiness would not be complete within Iris’s timeframe.

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A UK-based tech company focused on enhancing customer engagement and instant payments by merchant partnerships. The company was engaged in discussions with other SPACs in North American and received proforma deal terms from them. Following the execution of an non-disclosure agreement, Iris conducted due diligence