Company: LIMN
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001410578-25-001518
Chunk: 110

Company: Liminatus Pharma, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 110
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 2024 gives pro forma effect to the Business Combination and the other events contemplated by the Business Combination Agreement as if they had been consummated on January 1, 2024. The unaudited pro forma combined balance sheet as of March 31, 2025 and unaudited pro forma combined statement of operations for the three months ended March 31, 2025 has been derived from and should be read in conjunction with the following:

The unaudited pro forma combined statement of operations for the year ended December 31, 2024 has been derived from and should be read in conjunction with the following:

The unaudited pro forma combined financial information should also be read together with the sections of the financial statements of Iris as of and for the three months ended March 31, 2025, the financial statements of Iris as of and for the year ended December 31, 2024, the financial statements of ParentCo as of and for the three months ended March 31, 2025, the financial statements of ParentCo as of and for the year ended December 31, 2024 the financial statements of Liminatus as of and for the three months ended March 31, 2025, the financial statements of Liminatus as of and for the year ended December 31, 2024 and the sections of this filing entitled “Iris’s Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and “Liminatus’s Management’s Discussion and Analysis of Financial Condition and Results of Operations,” as well as other financial information included elsewhere in this filing. Management has made significant estimates and assumptions in its determination of the pro forma adjustments. As the unaudited pro forma combined financial information has been prepared based on these preliminary estimates, the final amounts recorded may differ materially from the information presented. Certain transactions, specifically the transaction expenses recognized by Iris and Liminatus in the pro forma transaction accounting adjustments for the three months ended March 31, 2025 and the year ended December 31, 2024 are not expected to recur in the statement

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of operations of the combined entity subsequent to the consummation of the business combination. Furthermore, while the Combined Company would be subject to tax at the corporate level subsequent to the consummation of the Business Combination, the Company would be in a net loss position which would result in a deferred tax asset which has been determined to not be more likely than not to be realized. Thus, the Combined Company would not have