Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 180

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 180
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 Iris public stockholders, due to such claims.

Additionally, if Iris is forced to file a bankruptcy case or an involuntary bankruptcy case is filed against it which is not dismissed, or if Iris otherwise enters compulsory or court supervised liquidation, the proceeds held in the Trust Account could be subject to applicable bankruptcy law, and may be included in its bankruptcy estate and subject to the claims of third parties with priority over the claims of its stockholders. To the extent any bankruptcy claims deplete the Trust Account, Iris may not be able to return to its public stockholders at least approximately $10.00 per share.

Iris’s initial stockholders and management team have agreed to vote in favor of the Business Combination, regardless of how Iris’s public stockholders vote.

The Iris Certificate of Incorporation provides that, if we seek stockholder approval of a business combination, such business combination will be approved if we receive the affirmative vote of a majority of the shares voted at such meeting, including the Founder Shares. Iris’s initial stockholders and management team have agreed to vote any Iris shares owned by them in favor of the proposed Business Combination, including the Business Combination Agreement and the Business Combination Proposal. As of September 30, 2024, Iris’s initial stockholders held 98% of the outstanding voting power of Iris common stock.

Given the 6,900,000 Founder Shares, Iris would need none of the public shares sold in the initial public offering to be voted in favor of the Business Combination in order to have the Business Combination approved. Accordingly, if Iris seeks stockholder approval of the Business Combination, the agreement by our initial stockholders and management team to vote their Founder Shares will insure the likelihood that Iris will receive the requisite stockholder approval for the Business Combination.

Iris’s stockholders may be held liable for claims by third parties against Iris to the extent of distributions received by them.

If Iris is unable to complete the Business Combination or another business combination within the required time period, Iris will: (i) cease all operations except for the purpose of winding up, (ii) as promptly

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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