Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 388

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 388
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ships resulting from an increase in the number of directors will be distributed among the three classes so that, as nearly as possible, each class will consist of one-third of the directors.

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TABLE OF CONTENTS

The division of the ParentCo Board into three classes with staggered three-year terms may delay or prevent a change of our management or a change in control.

#### Director Independence
As a result of ParentCo’s common stock being listed on Nasdaq following the consummation of the Business Combination, it will be required to comply with the applicable rules of such exchange in determining whether a director is independent. Prior to the completion of this Business Combination, the parties undertook a review of the independence of the individuals named above and have determined that each of Dr. Eun Sook Lee, Dr. Ji Yeon Baek and Nicholas Fernandez qualifies as “independent” as defined under the applicable Nasdaq rules.

#### Role of the Board in Risk Oversight
Upon the consummation of the Business Combination, one of the key functions of the ParentCo Board will be informed oversight of ParentCo’s risk management process. The ParentCo Board does not anticipate having a standing risk management committee, but rather anticipates administering this oversight function directly through the ParentCo Board as a whole, as well as through various standing committees of the ParentCo Board that address risks inherent in their respective areas of oversight. In particular, the ParentCo Board will be responsible for monitoring and assessing strategic risk exposure and ParentCo’s audit committee will have the responsibility to consider and discuss ParentCo’s major financial risk exposures and the steps its management will take to monitor and control such exposures, including guidelines and policies to govern the process by which risk assessment and management is undertaken. The audit committee will also monitor compliance with legal and regulatory requirements. ParentCo’s compensation committee will also assess and monitor whether ParentCo’s compensation plans, policies and programs comply with applicable legal and regulatory requirements.

#### Committees of the ParentCo Board
The ParentCo Board will establish an audit committee, a compensation committee and a nominating and corporate governance committee. The composition and responsibilities of each of the committees of the ParentCo Board are described below. Members serve on these committees until their resignation or until otherwise determined by the ParentCo Board. The ParentCo Board may establish other committees as it deems necessary or appropriate from time to time.

Audit Committee

ParentCo’s audit committee will consist of Dr. Eun Sook Lee, Dr. Ji Yeon Baek and Nicholas