Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 405

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 405
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150 days after the initial business combination, the Founder Shares will be released from the lock-up.

#### Promissory Note — Related Party
On December 31, 2020, the Sponsor agreed to loan Iris up to $300,000 to be used for a portion of the expenses of the IPO. These loans are non-interest bearing, unsecured and are due at the earlier of June 30, 2021 or the closing of the IPO. The loan was to be repaid upon the closing of the IPO out of the $1,000,000 of offering proceeds that had been allocated to the payment of offering expenses. The Promissory Note is no longer available to Iris.

On May 27, 2022, the Sponsor agreed to loan Iris up to $300,000 for working capital purposes. These loans are non-interest bearing, unsecured and are due by December 31, 2022. As of September 30, 2024 and December 31, 2023, the outstanding note was not repaid.

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On October 10, 2022, Iris issued an unsecured promissory note in the aggregate principal amount up to $550,000 to the Sponsor. Pursuant to the note, the Sponsor agreed to loan to Iris an aggregate amount up to $550,000 payable on March 1, 2023. The note does not bear interest. In the event that Iris does not consummate a business combination, the note will be repaid only from amounts remaining outside of the Trust Account, if any. The proceeds of the note will be used by Iris for working capital purposes. As of September 30, 2024 and December 31, 2023, Iris’s outstanding balance was $540,000 under this loan.

On December 20, 2022, Iris issued an unsecured promissory note in the aggregate principal amount up to $750,000 to the Sponsor. Pursuant to the note, the Sponsor agreed to loan to Iris an aggregate amount up to $750,000, payable on the earlier of June 22, 2023 or the consummation of the Transaction. The note does not bear interest. Upon the closing of the Transaction, Iris shall pay an amount equal to 150% of the principal amount. In the event that Iris does not consummate the Transaction, the note will be repaid only from amounts remaining outside of the