Company: LIMN
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001410578-25-001518
Chunk: 343

Company: Liminatus Pharma, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 343
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, the warrants must be recorded on the balance sheets at fair value. This valuation is subject to re-measurement at each balance sheet date. With each re-measurement, the warrant valuation will be adjusted to fair value, with the change in fair value recognized in the Company’s statements of operations. All of the Company’s permitted investments are held in a money market fund. Fair values of these investments are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for identical assets. The Company’s warrant liability for the Private Placement Warrants is based on a valuation model utilizing management judgment and pricing inputs from observable and unobservable markets with less volume and transaction frequency than active markets. Significant deviations from these estimates and inputs could result in a material change in fair value. The fair value of the Private Placement Warrant liability is classified within Level 3 of the fair value hierarchy. The Company’s warrant liability for the Public Warrants is based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. The fair value of the Public Warrant liability is classified within Level 1 of the fair value hierarchy.

F-98

The following table presents fair value information as of December 31, 2024 and December 31, 2023 of the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

| ​                                       
 ​                                       
 Description                             
 December 31, 2024                       
 Assets:                                 | ​ 
 ​ 
 ​ 
 ​ | ​              
 Amount at Fair 
 Value          
 ​              
 ​              |         ​ 
         ​ 
         ​ | ​ 
 ​ 
 ​ 
 ​ | ​       
 ​       
 Level 1 
 ​       
 ​       |         ​ 
         ​ 
         ​ 
         ​ | ​ 
 ​ 
 ​ 
 ​ 
 ​ | ​       
 ​       
 Level 2 
 ​       
 ​       | ​ 
 ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ 
 ​ | ​       
 ​       
 Level 3 
 ​       
 ​       |       ​ 
       ​ 
       ​ 
       ​ |
|:----------------------------------------|:--|:---------------|----------:|:--|:--------|----------:|:--|:--------|:--|:--|:--------|--------:|
| Cash equivalents held in Trust Account: | ​ | $              | 2,016,274 | ​ | $