Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 337

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 337
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 in connection with the Business Combination, the Sponsor or an affiliate of the Sponsor or certain of Iris’s officers and directors may, but are not obligated to, provide us Working Capital Loans. As of September 30, 2024 there were no Working Capital Loans outstanding.

#### Cash Flows from Operating Activities
For the nine months ended September 30, 2024, net cash used in operating activities was $2,320,967, which was due to Iris’s net loss of $2,035,985, unrealized gain on change in fair value of warrant liabilities of $248,882, interest earned on investments held in the Trust Account of $113,590, unrealized gain on change in fair value of derivative liability of $2,202, which were offset by changes in operating assets and liabilities of $78,353 and the accretion of discount on related party loans of $1,339.

For the nine months ended September 30, 2023, net cash used in operating activities was $1,462,079, which was due to Iris’s net loss of $739,623, unrealized gain on fair value of warrant liability of $442,726, forgiveness of unrelated vendor payables of $275,000, and interest earned on cash and investments held in the Trust Account of $506,550, partially offset by changes in operating assets and liabilities of $501,820.

For the year ended December 31, 2023, net cash used in operating activities was $2,089,180, which was due to Iris’s net loss of $1,226,218, change in fair value of warrant liability of $566,202, change in the fair value of the derivative liability of, $102,226 and interest earned on investments held in the Trust Account for $553,641 and forgiveness of unrelated vendor payables of $275,000, partially offset by a change in operating assets and liabilities of $531,018 and accretion of the debt discount on the related party loans of $103,089.

For the year ended December 31, 2022, net cash used in operating activities was $1,095,588, which was due to Iris’s net income of $10,249,254 and change in operating assets and liabilities of $1,896,702, partially offset by change in fair value of warrant liability of $9,586,864, interest earned on investments held in the Trust Account of $3,074,691 and forgiveness of