Company: LIMN
Filing Date: 2025-06-24
Form Type: S-1
Source: 0001410578-25-001432
Chunk: 10

Company: Liminatus Pharma, Inc.
Filing Date: 2025-06-24
Form: S-1
Chunk 10
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 Sponsor Forfeiture In connection with the Business Combination, pursuant to the terms of the Sponsor Forfeiture Agreement, the Sponsor forfeited 4,177,778 Private Placement Warrants effective immediately prior to the Closing. PIPE Equity Investment Concurrently with the Closing of the Business Combination, pursuant to the terms of the PIPE Equity Subscription Agreement, the Company completed its PIPE Equity Investment, issuing and selling 1,500,000 shares of ParentCo Common Stock in a private placement to an accredited investor (the “PIPE Investor”), at a purchase price per share of $10.00, for an aggregate purchase price of $15,000,000, issued in reliance on the exemption provided by Section 4(a)(2) of the Securities Act. Risk Factors Summary Investing in our securities involves risks. You should carefully consider the risks described in “ Risk Factors” before making a decision to invest in our securities. If any of these risks actually occurs, our business, financial condition and results of operations would likely be materially adversely affected. In such case, the trading price of our securities would likely decline, and you may lose all or part of your investment. Set forth below is a summary of some of the principal risks we face: Risks Related to Liminatus’s Limited Operating History, Financial Condition and Capital Requirements

| ● | Liminatus is a pre-clinical stage biotechnology company with a history of losses. Therapeutic drug development is a highly speculative undertaking and involves a substantial degree of risk. Liminatus expects to continue to incur significant losses for the foreseeable future and may never achieve or maintain profitability. Liminatus has not taken a product through to commercialization. |

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| ● | Liminatus has incurred losses since inception, and expects to incur significant losses for the foreseeable future and may not be able to achieve or sustain profitability in the future. Liminatus has not generated any revenue from the Liminatus assets and may never generate revenue or become profitable. |

| ● | Liminatus’s recurring losses from operations and financial condition could raise substantial doubt about its ability to continue as a going concern. |

| ● | Clinical development includes a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results. |

| ● | Liminatus will need substantial additional funds to advance development of its CD47 immune checkpoint inhibitor, and it cannot guarantee that it will have sufficient funds available in the future to develop and commercialize its