Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 490

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 490
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 418,246 | ​ | ​ | ​ | ​       | $ |          — | ​ | ​ | ​ | ​       | $ | — | ​ | ​ | ​ | ​       | $ | 418,246 | ​ | ​ |

Measurement — The Company established the initial fair value for the warrants on March 9, 2021, the date of the consummation of the IPO. On December 31, 2023 and 2022, the fair value was 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 December 31, 2023 and 2022. For December 31, 2023 and 2022, 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 Private Placement Warrants were as follows at December 31, 2023 and 2022:

| ​                       | ​ | ​ | December 31,2023 |   |       |   | ​ | ​ | December 31,2022 |   |       |   | ​ |
| Risk-free interest rate | ​ | ​ | ​                | ​ | 4.91% | ​ | ​ | ​ | ​                | ​ | 4.75% | ​ | ​ |
| Expected term (years)   | ​ | ​ | ​                | ​ |  0.87 | ​ | ​ | ​ | ​                | ​ |  0.69 | ​ | ​ |
| Expected volatility     | ​ | ​ | ​                | ​ |  5.7% | ​ | ​ | ​ | ​                | ​ | 11.1% | ​ | ​ |
| Exercise Price          | ​ | ​ | ​                | ​ | 11.50 | ​ | ​ | ​ | ​                | ​ | 11.50 | ​ | ​ |

The Company utilized a probability weighted expected return model for the initial valuation of the promissory note — related party bifurcated derivative. The derivatives were estimated utilizing a probability-weighted approach based on the expected outcomes of both a successful and unsuccessful business combination. The following table provides the significant inputs used in the model to measure the fair value of the bifurcated derivative upon each draw of the promissory note-related party:

F-50

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