Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 234

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 234
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29, 2021. After several discussions with the management, Tribe Capital Growth decided to explore other targets due to Target A’s valuation expectation.

Target B: Tribe Capital Growth initiated discussions with Target B, a company that provides online payments, billing, and utility expense management tools to homeowners associations and property management companies. Target B built a steady, low-churn customer base that has consistently expanded its payments revenue on its platform. A non-disclosure agreement between both parties was executed on April 19, 2021, and subsequently dataroom access was granted to the Tribe Capital Growth team for further analysis. Subsequently, Tribe Capital Growth submitted a letter of interest to Target B and initiated further discussions with Target B’s management to assess their capital requirements and understand their growth plans. However, these discussions did not materialize as Target B’s sales efficiency and overall revenue growth metrics were on the lower end of Tribe Capital Growth’s benchmark.

Target C: Tribe Capital Growth initiated discussions with Target C, a North American based metaverse company that was one of the early pioneers in that space. Target C developed a gaming platform that operates as a virtual world that is driven by user-generated content. Over time Target C garnered significant traction and users onto its platform. As the metaverse gained traction in 2021, Tribe Capital Growth identified Target C as an ideal target as it held the right infrastructure in place, established market presence in the metaverse space, existing active user base on its platform. In October 2021, Tribe Capital Growth signed an indication of interest with 60-day exclusivity period and proceeded towards onboarding advisors and due diligence. Tribe Capital Growth also engaged a PIPE placement agent to prepare the investor presentation in discussion with Target C.

In December 2021, Target C indicated its immediate cash requirement, which was not in line with the de-SPAC timelines. Numerous discussions were held between Tribe Capital Growth, Target C and respective advisors to identify venues and finalize terms to raise a private round of funding to satisfy the company’s cash requirement.

Tribe Capital Growth made extensive efforts to reach an agreement suitable to both parties, but was unable to get the terms of the private round of funding tied to a successful de-SPAC, and thus Target C decided to pursue other alternatives.

Target D: Target D was a dating app company that operates 27 social discovery applications worldwide, each utilizing a unique approach in matching users and targeting specific demographic profiles. Iris Tribe Capital Growth had engaged in soft conversations since April 2021. Target D granted virtual datar