Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 454

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 454
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 | ​ |         — | ​ | ​ | ​ | ​       | ​ | — | ​ | ​ | ​ | ​       | ​ | 168,754 | ​ | ​ |
| Derivative liability                    | ​ | ​ | ​                   | $ |     2,202 | ​ | ​ | ​ | ​       | $ |         — | ​ | ​ | ​ | ​       | $ | — | ​ | ​ | ​ | ​       | $ |   2,202 | ​ | ​ |

Measurement — The Company established the initial fair value for the warrants on March 9, 2021, the date of the consummation of the IPO. On September 30, 2024 and December 31, 2023, the fair value was

F-24

TABLE OF CONTENTS

IRIS ACQUISITION CORP NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS remeasured. In May 2021, the Public Warrants were separately traded in the open market and the valuation for the Public Warrants was based on unadjusted quoted prices at September 30, 2024 and December 31, 2023. For September 30, 2024 and December 31, 2023, the Company used a Monte Carlo simulation model to value the Private Placement Warrants. The key inputs into the Monte Carlo simulation model for the Warrants were as follows at initial measurement, September 30, 2024 and December 31, 2023:

| ​                       | ​ | ​ | September 30, 2024(Unaudited) |   |       |   | ​ | ​ | December 31, 2023 |   |       |   | ​ |
|:------------------------|:--|:--|:------------------------------|:--|------:|:--|:--|:--|:------------------|:--|------:|:--|:--|
| Risk-free interest rate | ​ | ​ | ​                             | ​ | 4.19% | ​ | ​ | ​ | ​                 | ​ | 4.91% | ​ | ​ |
| Expected term (years)   | ​ | ​ | ​                             | ​ |  0.74 | ​ | ​ | ​ | ​                 | ​ |  0.87 | ​ | ​ |
| Expected volatility     | ​ | ​ | ​                             | ​ |  3.2%