Company: LIMN
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001410578-25-001518
Chunk: 304

Company: Liminatus Pharma, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 304
---
150,400 |
| Change in fair value            | ​ |   |  21,915 |
| Fair Value at March 31, 2025    | ​ | $ | 172,315 |

F-74

Note 11. Segment Information

ASC Topic 280, Segment Reporting, establishes standards for companies to report in their financial statements information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker (“CODM”), or group, in deciding how to allocate resources and assess performance.

The Company is a blank check company formed for the purpose of effecting a Business Combination. As of March 31, 2025, the Company had not commenced any operations. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income on the investments held in the Trust Account.

The Company’s CODM has been identified as the Chief Executive Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company is a single segment entity. When evaluating the Company’s performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following:

| ​                                          
 ​                                          
 ​                                          | ​ 
 ​ | ​              
 March 31, 2025 
 (Unaudited)    |         ​ | ​ 
 ​ | ​                 
 ​                 
 December 31, 2024 |         ​ 
         ​ |
|:-------------------------------------------|:--|:---------------|----------:|:--|:------------------|----------:|
| Cash                                       | ​ | $              |    62,242 | ​ | $                 |    65,343 |
| Cash and investments held in Trust Account | ​ | $              | 1,345,389 | ​ | $                 | 2,016,274 |

| ​                                                                  
 ​                                                                  | ​ 
 ​ | ​                                    
 For the three months ended March 31, 
 ​                                    |       ​ 
    2025 | ​ | ​ 
 ​ |       ​ 
    2024 |
|:-------------------------------------------------------------------|:--|:-------------------------------------|--------:|:--|:--|--------:|
| Other general and administrative expenses                          | ​ | $