Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 491

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 491
---

IRIS ACQUISITION CORP NOTES TO FINANCIAL STATEMENTS

| ​ | Risk free rate                                  | ​ | ​ | 4.39% – 5.56%  | ​ |
| ​ | Expected term (years)                           | ​ | ​ | 0.25 – 0.52    | ​ |
| ​ | Likelihood of completing a business combination | ​ | ​ | 8.88% – 11.68% | ​ |

The change in the fair value of the warrant and derivative liabilities classified as Level 3 for the year ended December 31, 2023 and 2022 is summarized as follows:

| ​                                | ​ | ​ | WarrantLiabilities |   |            |   | ​ | ​ | Derivativeliability |   |          |   | ​ |
|:---------------------------------|:--|:--|:-------------------|:--|-----------:|:--|:--|:--|:--------------------|:--|---------:|:--|:--|
| Fair Value at January 1, 2022    | ​ | ​ | ​                  | $ |  4,594,820 | ​ | ​ | ​ | ​                   | $ |        — | ​ | ​ |
| Change in fair value             | ​ | ​ | ​                  | ​ | -4,176,574 | ​ | ​ | ​ | ​                   | ​ |        — | ​ | ​ |
| Fair value at December 31, 2022  | ​ | ​ | ​                  | ​ |    418,246 | ​ | ​ | ​ | ​                   | ​ |        — | ​ | ​ |
| Issuance of derivative liability | ​ | ​ | ​                  | ​ |          — | ​ | ​ | ​ | ​                   | ​ |  104,428 | ​ | ​ |
| Change in fair value             | ​ | ​ | ​                  | ​ |   -249,492 | ​ | ​ | ​ | ​                   | ​ | -102,226 | ​ | ​ |
| Fair value at December 31, 2023  | ​ | ​ | ​                  | $ |    168,754 | ​ | ​ | ​ | ​                   | $ |    2,202 | ​ | ​ |

NOTE 12. SUBSEQUENT EVENTS The Company has evaluated all events that occurred through