Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 334

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 334
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 any reduced disclosure obligations, it may also make comparison of our financial statements with other public companies difficult or impossible.

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TABLE OF CONTENTS

<div align='center'>**IRIS’S MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**</div>

Unless the context otherwise requires, all references in this section to “Iris,” “we,” “us” or “our” refer to Iris prior to the consummation of the Business Combination. The following discussion and analysis should be read in conjunction with the financial statements and related notes included elsewhere in this proxy statement/ prospectus. This discussion contains forward-looking statements reflecting Iris’s current expectations, estimates and assumptions concerning events and financial trends that may affect Iris’s future operating results or financial position. Actual results and the timing of events may differ materially from those contained in these forward-looking statements due to a number of factors, including those discussed in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” appearing elsewhere in this proxy statement/prospectus.

### Overview
Iris is a blank check company incorporated on November 5, 2020 as a Delaware corporation and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. On November 30, 2022, Iris executed a Business Combination Agreement with Liminatus Pharma, LLC. Iris intends to effectuate the Business Combination using cash from the proceeds of its initial public offering and the private placement of the private placement warrants, the proceeds of the sale of its shares in connection with its Business Combination (pursuant to forward purchase agreements or backstop agreements Iris may enter into following the consummation of its initial public offering or otherwise), shares issued to the owners of the target, debt issued to bank or other lenders or the owners of the target, or a combination of the foregoing. The registration statement for Iris’s initial public offering was declared effective by the SEC on March 4, 2021. On March 9, 2021, Iris consummated the initial public offering of 27,600,000 Units at a price of $10.00 per Unit, for total gross proceeds of $276,000,000. Each Unit consists of one share of Iris Class A Common Stock, $0.0001 par value, and one-fourth of one redeemable warrant entitling its holder