Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 29

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 29
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 AND ANSWERS ABOUT THE PROPOSALS FOR STOCKHOLDERS
The following questions and answers briefly address some commonly asked questions about the proposals to be presented at the Special Meeting, including with respect to the proposed Transactions. The following questions and answers do not include all the information that may be important to you. We urge stockholders to read carefully this entire proxy statement/prospectus, including the annexes and the other documents referred to herein.

Q:

Why are Iris and Liminatus proposing to enter into the Business Combination?

A:

Iris is a blank check company formed specifically as a vehicle to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. In the course of Iris’s search for a business combination partner, Iris investigated the potential acquisition of many entities in various industries and concluded that Liminatus was the best candidate for a business combination with Iris. For more details on Iris’s search for a business combination partner and the Iris Board’s reasons for selecting Liminatus as Iris’s business combination partner, see the sections entitled “ Proposal No. 1 — The Business Combination Proposal — Background of the Business Combination ” and “ Proposal No. 1 — The Business Combination Proposal — The Iris Board’s Reasons for the Approval of the Business Combination . ” On November 30, 2022, the Iris Board: (i) determined that the Business Combination was advisable to and in the best interests of Iris and its stockholders, (ii) unanimously approved the Business Combination Agreement and the transactions contemplated thereby (including the Business Combination), and (iii) recommended that Iris’s stockholders approve the Business Combination Agreement and the transactions contemplated thereby (including the Business Combination). On November 30, 2022, the Business Combination Agreement was executed by the parties. The Registration Statement was initially declared effective by the SEC on August 9, 2024. On August 16, 2024, Liminatus informed us that TDT, Liminatus’s license partner for the intellectual property and other rights related to GCC (CAR-T therapy and cancer vaccine), terminated the TDT License. TDT asserted that the termination was due to Liminatus’ failure to make the milestone payments under the agreement, but Liminatus believes it was current on the milestone payments. TDT has not communicated further since terminating the license. Following the receipt of the termination notice, and after considering the development status of the CAR-T products, Liminatus management concluded, in its business judgment