Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 486

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 486
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| Change in fair value of Warrant Liability            | ​ | ​ | ​                | ​ | 9.98%    | ​ | ​ | ​ | ​                | ​ | (18.66)% | ​ | ​ |
| Prior year adjustments                               | ​ | ​ | ​                | ​ | 20.83%   | ​ | ​ | ​ | ​                | ​ | —%       | ​ | ​ |
| Other permanent items                                | ​ | ​ | ​                | ​ | (0.62)%  | ​ | ​ | ​ | ​                | ​ | —%       | ​ | ​ |
| Acquisition Facilitative Expenses                    | ​ | ​ | ​                | ​ | (19.54)% | ​ | ​ | ​ | ​                | ​ | —%       | ​ | ​ |
| Change in valuation allowance                        | ​ | ​ | ​                | ​ | (34.50)% | ​ | ​ | ​ | ​                | ​ | 2.66%    | ​ | ​ |
| Income Tax Provision/(Benefit)                       | ​ | ​ | ​                | ​ | (2.85)%  | ​ | ​ | ​ | ​                | ​ | 5.00%    | ​ | ​ |

The Company files income tax returns in the U.S. federal jurisdiction and is subject to federal examination. NOTE 11. RECURRING FAIR VALUE MEASUREMENTS As of December 31, 2023 and 2022, the Company’s warrant liabilities were valued at $376,444 and $942,646, respectively. Under the guidance in ASC 815-40, the warrants do not meet the criteria for equity treatment. As such, the warrants must be recorded on the balance sheets at fair value. This valuation is subject to re-measurement at each balance sheet date. With each re-measurement, the warrant valuation will be adjusted to fair value, with the change in fair value recognized in the Company’s statements of operations. All of the Company’s permitted investments were held in a money market fund. Fair values of these investments are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for

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IRIS ACQUISITION CORP NOTES TO FINANCIAL STATEMENTS identical assets. The Company’s warrant liability for the Private Placement Warrants is based on a valuation model utilizing management judgment and pricing inputs from observable and unobservable markets with less volume