Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 314

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 314
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 businesses who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under Iris’s indemnity of the underwriter of its IPO against certain liabilities, including liabilities under the Securities Act. However, Iris has not asked the Sponsor to reserve for such indemnification obligations, nor has Iris independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and Iris believes that the Sponsor’s only assets are securities of Iris. Therefore, Iris cannot assure you that the Sponsor would be able to satisfy those obligations. As a result, if any such claims were successfully made against the Trust Account, the funds available for the Business Combination and redemptions could be reduced to less than $10.00 per share of Iris Class A Common Stock. In such event, Iris may not be able to complete the Business Combination, and you would receive such lesser amount per share in connection with any redemption of your shares of Iris Class A Common Stock. None of Iris’s officers or directors will indemnify Iris for claims by third parties including, without limitation, claims by vendors and prospective target businesses.

In the event that the proceeds in the Trust Account are reduced below the lesser of: (i) $10.00 per share of Iris Class A Common Stock and (ii) the actual amount per share of Iris Class A Common Stock held in

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the Trust Account as of the date of the liquidation of the Trust Account if less than $10.00 per share due to reductions in the value of the trust assets, in each case less taxes payable, and the Sponsor asserts that it is unable to satisfy its indemnification obligations or that it has no indemnification obligations related to a particular claim, Iris’s independent directors would determine whether to take legal action against the Sponsor to enforce its indemnification obligations. While Iris currently expects that its independent directors would take legal action on Iris’s behalf against the Sponsor to enforce its indemnification obligations to Iris, it is possible that Iris’s independent directors in exercising their business judgment may choose not to do so in any particular instance. Accordingly, Iris cannot assure you that due to claims of creditors the actual value of the per-share redemption price will not be less than $10.00 per share.

Iris will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers,