Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 253

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 253
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 out of the Trust Account in January 2025 and excluding taxes payable on the income earned on the Trust Account) and 80% thereof represents approximately $1.6 million. In reaching its conclusion that the proposed Business Combination meets the 80% of net assets test, the Iris Board used as a fair market value the enterprise value of approximately $175 million, which was implied based on the terms of the transactions agreed to by the parties in negotiating the Business Combination Agreement.

Board of Directors of ParentCo Following the Business Combination

The Proposed ParentCo Certificate of Incorporation provides that the board of directors of ParentCo (the “ParentCo Board”) will consist of not less than three (3) nor more than eleven (11) members, the exact number initially fixed at three (3) and adjusted thereafter from time to time by the Board. The individuals nominated to serve on the ParentCo board are Mr. Chris Kim, Dr. Eun Sook Lee, Dr. Ji Yeon Baek and Mr. Nicholas Fernandez. For additional information, see the section entitled “Management of ParentCo Following the Business Combination . ”

#### Tax Considerations
For a detailed discussion of the material U.S. federal income tax consequences of the Business Combination, please see the section entitled “ Material U.S. Federal Income Tax Considerations .”

### Expected Accounting Treatment of the Business Combination
The Business Combinations will be accounted for as a reverse recapitalization, with no goodwill or other intangible assets recorded in accordance with GAAP. Under this method of accounting, Iris will be treated as the “acquired” company for financial reporting purposes. Accordingly, for accounting purposes, the Business Combinations will be treated as the equivalent of Liminatus issuing stock for the net assets of Iris, accompanied by a recapitalization. The net assets of Iris will be stated at historical cost, which approximates fair value, with no goodwill or other intangible assets recorded. Operations prior to the Business Combinations will be those of Liminatus.

#### Appraisal Rights
Appraisal rights are not available to holders of Iris common stock in connection with the Business Combination.

#### Regulatory Matters
The Business Combination and the transactions contemplated by the Business Combination Agreement are not subject to any additional regulatory requirement or approval, except for filings required with the SEC pursuant to the reporting requirements applicable to Iris, and the requirements of the Securities Act and the Exchange Act, including the requirement to file the registration statement of which this proxy statement/ prospectus forms a part and to disseminate it to its