Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 179

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 179
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TABLE OF CONTENTS

to raise capital sooner than if the advances had not been agreed to, and any such capital raising could be dilutive to stockholders who do not redeem their shares of common stock.

If Iris is unable to complete the Business Combination or another business combination or amend the Iris Certificate of Incorporation by stockholder approval by March 31, 2025 (subject to an additional three month extension at the discretion of the Iris Board), Iris will cease all operations except for the purpose of winding up, redeeming the public shares and, subject to the approval of its remaining stockholders and the Iris Board, liquidating and dissolving. In such event, third parties may bring claims against Iris and, as a result, the proceeds held in the Trust Account could be reduced and the per-share liquidation price received by stockholders could be less than approximately $10.00 per share.

Under the terms of the Iris Certificate of Incorporation, as amended, Iris must complete the Business Combination or another business combination or amend the Iris Certificate of Incorporation by stockholder approval by March 31, 2025 (subject to an additional three month extension at the discretion of the Board), or Iris must: cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (which interest shall be net of all applicable taxes payable from the Trust Account and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish the public stockholders’ rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of Iris’s remaining stockholders and the Iris Board, liquidate and dissolve, subject, in each case, to Iris’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. In such event, third parties may bring claims against Iris. Accordingly, the proceeds held in the Trust Account could be subject to claims which could take priority over those of Iris’s public stockholders. Therefore, the per-share distribution from the Trust Account in such a situation may be less than approximately $10.00 to