Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 295

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 295
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 in the first bullet point above of a Non-U.S. holder that is a corporation for U.S. federal income tax purposes may also be subject to an additional “branch profits tax” at a thirty percent (30%) rate (or lower applicable treaty rate).

With respect to the second bullet point above, a U.S. corporation generally is a USRPHC if the fair market value of its U.S. real property interests equals or exceeds 50% of the sum of the fair market value of its worldwide real property interests plus its other assets used or held in a trade or business. Iris does not believe that it has been a USRPHC and does not expect that ParentCo will be a USRPHC based on the nature of its future business and the assets it will own. Even if ParentCo were a USRPHC assuming that the ParentCo Common Stock and ParentCo warrants are treated as regularly traded on an established securities market at the time of a sale or other disposition of the ParentCo Common Stock or ParentCo warrants, Non-U.S. holders that did not own (directly, indirectly or constructively) more than 5% of the ParentCo Common Stock at any time throughout the shorter of the five-year period ending on the disposition or the Non-U.S. holder’s holding period will generally not be subject to U.S. federal income tax on the disposition as if such holder were a United States person. The ParentCo Common Stock and ParentCo warrants will be listed on Nasdaq and, although no assurance can be given, we expect that, for as long as the ParentCo Common Stock and ParentCo warrants continue to be so listed, such interests will be treated as “regularly traded on an established securities market.” Non-U.S. holders should consult their own tax advisors regarding the impact of the potential treatment of ParentCo as a USRPHC to the Non-U.S. holder’s disposition of ParentCo Common Stock or ParentCo warrants, including any associated tax payment or tax return filing obligations.

Exercise or Lapse of a Warrant . The U.S. federal income tax characterization of a Non-U.S. holder’s exercise or lapse of a ParentCo warrant will correspond to the U.S. federal income tax characterization of the exercise or lapse of a ParentCo warrant by a U.S. holder, as described above under “ U.S. Holders — Exercise or Lapse of a ParentCo Warrant ,” although to the extent a cashless exercise results in a taxable exchange, the consequences would