Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 290

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 290
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 for our common stock, ParentCo Common Stock or ParentCo

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TABLE OF CONTENTS

warrants so disposed of exceeds one year. It is unclear, however, whether the redemption rights with respect to our common stock described in this proxy statement/prospectus may suspend the running of the applicable holding period for this purpose. Long-term capital gains recognized by non-corporate U.S. holders will be eligible to be taxed at reduced rates. The deductibility of capital losses is subject to limitations.

Exercise or Lapse of a ParentCo Warrant . Except as discussed below with respect to the cashless exercise of a ParentCo warrant, a U.S. holder will not recognize taxable gain or loss on the acquisition of ParentCo Common Stock upon exercise of a ParentCo warrant for cash. The U.S. holder’s tax basis in the share of ParentCo Common Stock received upon exercise of the ParentCo warrant will be an amount equal to the sum of the U.S. holder’s initial investment in the ParentCo warrant and the exercise price. The U.S. holder’s holding period for the ParentCo Common Stock received upon exercise of the ParentCo warrant will begin on the day following the date of exercise (or possibly the date of exercise) of the ParentCo warrant and will not include the period during which the U.S. holder held the ParentCo warrant. Subject to certain exceptions, if a ParentCo warrant is allowed to lapse unexercised, a U.S. holder will realize a capital loss equal to such U.S. holder’s tax basis in the ParentCo warrant. Such loss will be long-term if the U.S. holder’s holding period for the ParentCo warrant exceeds one year.

The tax consequences of a cashless exercise of a ParentCo warrant are not clear under current tax law. A cashless exercise may be tax-deferred, either because the exercise is not a gain realization event or because the exercise is treated as a recapitalization for U.S. federal income tax purposes. In either tax-deferred situation, a U.S. holder’s tax basis in the ParentCo Common Stock received would equal the U.S. holder’s tax basis in the ParentCo warrant. If the cashless exercise were treated as not being a gain realization event, a U.S. holder’s holding period in the ParentCo Common Stock would be treated as commencing on the day following the date of exercise (or possibly the date of exercise) of the ParentCo warrant. If the cashless