Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 200

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 200
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. The outcome of any litigation cannot be guaranteed, and adverse outcomes can affect Iris, Liminatus and ParentCo negatively.

The consummation of the Business Combination is subject to a number of conditions. If those conditions are not satisfied or waived, the Business Combination Agreement may be terminated in accordance with its terms and the Business Combination may not be completed.

The Business Combination Agreement is subject to a number of conditions which must be fulfilled in order to complete the Business Combination. Those conditions include: (i) approval by Iris’s stockholders; (ii) the absence of any statute, rule, regulation, injunction, order, or decree that is enacted, entered, promulgated, or enforced and prohibits, prevents, or makes illegal the completion of the Business Combination; and (iii) the absence of any claim, litigation or proceeding initiated and pending or threatened relating to the Business Combination Agreement or the Business Combination, or seeking to prevent the completion of the Business Combination. Each party’s obligation to complete the Business Combination is

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also subject to certain additional customary conditions. These conditions to the closing may not be fulfilled in a timely manner or at all, and, accordingly, the Business Combination may not be completed.

Iris’s ability to consummate the Business Combination may be negatively impacted because neither the Iris Board nor any committee of the Iris Board obtained a fairness opinion in determining whether or not to pursue the Business Combination, and as a result, the terms may not be fair from a financial point of view to Iris’s stockholders.

Neither the Iris Board nor any committee of the Iris Board is required to obtain an opinion from an independent investment banking or accounting firm regarding the value of Liminatus or that the price that Iris is paying for Liminatus in the Business Combination is fair to Iris or its stockholders from a financial point of view. In analyzing the Business Combination, the Iris Board conducted due diligence on Liminatus. It also consulted with Liminatus’s management and legal counsel, financial advisors and other advisors and considered a number of factors, uncertainties and risks, including, but not limited to, those discussed under “ Proposal No. 1 — The Business Combination Proposal — The Iris Board’s Reasons for the Approval of the Business Combination ,” and concluded that the Business Combination was in the best interest of Iris’s stockholders. The Iris Board believes that because of the skills and background of its directors, it was qualified to conclude that the Business Combination was fair from a financial perspective