Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 249

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 249
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The market in which Liminatus operates is highly competitive.

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The license agreements related to the intellectual property assets are restrictive and may become non-exclusive.

After considering the foregoing potentially negative and potentially positive reasons, the Iris Board concluded, in its business judgment, and notwithstanding the loss of the TDT License, that the potentially positive reasons relating to the Transactions outweighed the potentially negative reasons. In approving the Business Combination, the Iris Board determined not to obtain a fairness opinion. The Iris Board believes because of the skills and background of its officers and directors, it was qualified to conclude that the Business Combination was fair from a financial perspective to its stockholders and that Liminatus’s fair market value was at least 80% of the balance of the funds in the Trust Account (excluding any taxes payable). In connection with its deliberations, the Iris Board also considered that Iris’s executive officers and directors may have financial interests in the Business Combination that may be different from or in addition to (and may conflict with) the interests of other Iris stockholders. The Iris Board was aware of and considered these interests, among other matters, in reaching the determination that the Transactions contemplated by the Business Combination Agreement were advisable and in the best interests of Iris and its stockholders. See “ — Interests of Certain Persons in the Business Combination .”

### Liminatus Consideration of the Business Combination
On November 30, 2022, Liminatus: (i) approved the Business Combination Agreement and the transactions contemplated thereby, (ii) determined that the Business Combination is fair to, advisable, and in the best interest of Liminatus and its members, and (iii) recommended that the members of Liminatus approve the Business Combination Agreement and the transactions contemplated thereby. In evaluating the Business Combination and making these determinations and this recommendation, Liminatus consulted with Liminatus’s senior management, Liminatus’s legal counsel and its other advisors and considered a number of factors.

The Liminatus management also considered the general criteria and guidelines that Liminatus believed would be important in evaluating prospective business combination partners. In considering the Business Combination, the Liminatus management determined that the Business Combination provided the benefits below, although not weighted or in any order of significance. In light of the factors described below, the Liminatus management determined the Business Combination was an attractive business opportunity.

The Liminatus management’s evaluation relating to the merits of the Business Combination were based on considerations, factors, criteria and guidelines that Liminatus’s management team