Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 35

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 35
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 the merger as a direct wholly-owned subsidiary of ParentCo, and (ii) SPAC Merger Sub will merge with and into Iris, with Iris being the surviving corporation in the merger as a direct wholly-owned subsidiary of ParentCo. Upon consummation of the Business Combination, ParentCo will become the public company and the name of the company will be Liminatus Pharma, Inc. Each public stockholder’s Iris common stock and Iris Public Warrants will be converted into an equivalent number of shares of ParentCo Common Stock and ParentCo Public Warrants as a result of the Transactions. All Iris Private Placement Warrants, except those issued to Cantor, will be forfeited. In accordance with the terms of the Warrant Agreement, the Private Placement Warrants issued to Cantor shall immediately and automatically represent the right to purchase shares of ParentCo Common Stock on the same terms and conditions as are set forth in the Warrant Agreement. The aggregate consideration to be paid in the Transactions to the Liminatus Members will consist of 17.5 million shares of ParentCo Common Stock.

Q:

What equity stake will current Iris stockholders and Liminatus Members hold in ParentCo after the closing?

A:

The following table summarizes the pro forma equity ownership in ParentCo Common Stock immediately following the Business Combination under three redemption scenarios. After the special meeting held by Iris on December 20, 2024, to vote upon a charter amendment to extend the time to complete a business combination until March 31, 2025 (subject to an additional three month extension at the discretion of the Iris Board), public stockholders elected to redeem 64,453 shares of common stock, resulting in $2,001,033 of funds remaining in the Trust Account (as adjusted for redemptions paid out of the Trust Account in January 2025 and subject to adjustment for such further taxes as may be payable from the Trust Account) and 174,477 shares of Iris common stock held by the public stockholders. For additional information, see the sections entitled “ Summary of the Proxy Statement/

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TABLE OF CONTENTS

Prospectus — Impact of the Business Combination on ParentCo’s Public Float ” and “ Summary Unaudited Pro Forma Condensed Combined Financial Information .”

| ​                                 | ​ | ​ | Assuming NoAdditionalRedemptions(1)(2) |   |            |   | ​ | ​ | %Ownership |   |      |   | ​ | ​ | Assumingan additional50