Company: LIMN
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001410578-25-001518
Chunk: 99

Company: Liminatus Pharma, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 99
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We are registering for resale on behalf of the Selling Securityholders an aggregate of 19,619,406 shares of Common Stock, not including the shares underlying the Warrants. The Common Stock being registered for resale in this prospectus (excluding the shares underlying the Warrants) constitutes approximately 72.5% of our total outstanding shares. In addition, a portion of the Common Stock being registered for resale hereunder were purchased by the Selling Securityholders at prices below the current market price of our Common Stock. Given the substantial amount of redemptions in connection with the Business Combination and the relative lack of liquidity in our stock, sales of our Common Stock under the registration statement of which this prospectus is a part could result in a significant decline in the market price of our securities. On July 23, 2025, the last reported sales price of our Common Stock was $6.47. The exercise price of the Warrants is $11.50, which is higher than the current market price of our Common Stock and accordingly, Warrant holders may not be able to exercise their Warrants at this time. Cash proceeds associated with the exercises of the Warrants are dependent on our stock price and given the recent price volatility of our Common Stock and relative lack of liquidity in our stock, we may not receive any cash proceeds in relation to our outstanding warrants. In addition, the trading volume in our Common Stock and our Public Warrants may fluctuate and cause significant price variations to occur. We cannot assure you that the market price of the Common Stock and our Public Warrants will not fluctuate widely or decline significantly in the future in response to a number of factors, including, among others, the following:

| ● | the Selling Securityholders generally purchased the securities being registered for resale hereunder at prices that are lower than the current market prices for such securities and, accordingly, may be or are incentivized to sell them under the registration statement of which this prospectus is a part (for example, the Sponsor purchased the founder at a price per share of $0.004); |

| ● | the Selling Securityholders may be incentivized to sell their securities even if the prevailing trading price of such securities is at or significantly below the IPO price, because the prices at which they acquired their shares may be lower than prevailing market prices and/or the prices at which public investors purchased our securities in the open market, and therefore such Selling Securityholders may generate positive rates of return on their investment that would not be available to