Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 382

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 382
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 rendered to us and no executive officer or director of Iris has received cash compensation for services rendered to ParentCo prior to the Business Combination. In connection with the Business Combination and following the transactions in connection therewith, ParentCo’s directors, executive officers and other employees will begin receiving compensation from ParentCo.

Subsequent to the closing of the IPO, Iris began paying a then-affiliate of the Sponsor, Tribe Capital, a total of $10,000 per month for office space, secretarial and administrative services provided to members of Iris’s management team. On March 11, 2024, the Company entered into the Agreement with Arrow. Pursuant to the Agreement, Arrow will provide the Services to the Company. In exchange for the Services, the Company will pay to Arrow $10,000 per month, beginning January 1, 2024, and continuing until the earlier of the consummation by the Company of an initial business combination or the Company’s liquidation. On August 30, 2024, the Company amended the Agreement with Arrow. In exchange for the Services mentioned above, the Company will pay to Arrow $30,000 per month, beginning September 1, 2024, and continuing until the earlier of the consummation by the Company of an initial business combination or the Company’s liquidation. Upon completion of the Business Combination or its liquidation, it will cease paying these monthly fees. In addition, Sponsor, executive officers and directors, or any of their respective affiliates are reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit committee reviews on a quarterly basis all payments that were made to the Sponsor, executive officers or directors, or our or their affiliates. Any such payments prior to an initial business combination will be made from funds held outside the Trust Account. Other than quarterly audit committee review of such reimbursements, we do not expect to have any additional controls in place governing our reimbursement payments to our directors and executive officers for their out-of-pocket expenses incurred in connection with our activities on our behalf in connection with identifying and consummating an initial business combination. Other than these payments and reimbursements, no compensation of any kind, including finder’s and consulting fees, is paid by Iris to the Sponsor, executive officers and directors, or any of their respective affiliates, prior to completion of the Business Combination.

It is possible that some or all of our executive officers and directors may negotiate employment or consulting arrangements to