Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 215

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 215
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 to be paid to Benjamin Securities, Inc. pursuant to a Capital Markets Advisory Agreement whereby Benjamin Securities, Inc. will assist ParentCo in meeting the initial listing standards of Nasdaq.

(q)

Reflects the maximum redemption of 174,477 Iris Class A Common Stock at a redemption price of approximately $11.09 per share, totaling approximately $1.9 million (includes market appreciation and interest on the marketable securities and/or balances held in the Trust).

(r)

Represents estimated excise taxes of approximately $0.02 million of additional excise taxes assuming maximum redemptions.

Transaction Accounting Adjustments to Unaudited Pro Forma Combined Statement of Operations

The transaction accounting adjustments included in the unaudited pro forma combined statement of operations for the nine months ended September 30, 2024 and year ended December 31, 2023 are as follows:

(aa) Reflects an adjustment to eliminate interest income related to the Trust Account.

(bb)

Reflects the elimination of the change in fair value of the public warrants, which are expected to be reclassified to permanent equity upon the closing of the Business Combination, as discussed in Note 2(k) above.

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(cc) Reflects the elimination of the change in fair value of the 4,177,778 forfeited private warrants. (dd) Reflects preliminary estimated Iris transaction costs that will be expensed upon the closing of the Business Combination, as discussed in Note 2(e) above. These costs are reflected as if incurred on January 1, 2023, the date the Business Combination is deemed to have occurred for the purposes of the unaudited pro forma condensed combined statements of operations. This is a non-recurring item. (ee) Reflects the elimination of interest expense on the $10.0 million Liminatus short-term debt, which is expected to be settled upon the closing of the Business Combination, as discussed in Note 2(m) above. (ff) Reflects the elimination of change in fair value of derivative liability, which is expected to be settled upon the closing of the Business Combination, as discussed in Note 2(n) above. (gg) Reflects an adjustment to eliminate income taxes due to interest income related to the Trust Account. 3. Loss per Share Represents the net loss per share calculated using the historical weighted average shares of Liminatus exchanged common shares outstanding, and the issuance of additional shares in connection with the Business Combination and other related events