Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 341

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 341
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 accounting and auditing), as well as for due diligence expenses. Iris will not generate any operating revenues until the closing and completion of its initial business combination.

For the three months ended September 30, 2024, Iris had a net loss of $642,900, which consisted of $1,019,694 of formation and offering costs and provision for income taxes of $5,163, which are offset by a $348,971 gain on the change in fair value of warrants, and interest income on investments held in the Trust Account of $32,986.

For the three months ended September 30, 2023, Iris had a net loss of $323,891, which consisted of an unrealized loss on fair value of warrants of $45,822, formation and offering costs of $676,321, and provision for income taxes of $23,601 partially offset by $421,853 of interest income on marketable securities held in the Trust Account.

For the nine months ended September 30, 2024, Iris had a net loss of $2,035,985, which consisted of $2,383,530 of formation and offering costs, $15,790 provision for income taxes, $1,339 of interest expense offset by $248,882 gain on the change in fair value of warrants, interest income on investments held in the Trust Account of $113,590 and a gain on the fair value of derivatives of $2,202.

For the nine months ended September 30, 2023, Iris had a net loss of $739,623, which consisted of $1,943,512 of formation and offering costs, offset by an unrealized gain on fair value of warrant liabilities of $442,726, forgiveness of unrelated payables for $275,000, interest income on marketable securities held in the Trust Account of $506,550 and income tax provision of $20,387.

For the year ended December 31, 2023, Iris had a net loss of approximately $1,226,218, which consisted of income of $275,000 for the forgiveness of unrelated vendor payables, a $566,202 gain on the change in fair value of warrants, 102,226 for the change in the fair value of the derivative liability, and interest income on cash and cash equivalents held in the Trust Account of $553,641, which is offset by $2,586,211 of formation and offering costs, interest expense of $103,089, and the