Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 214

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 214
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 in cash; and

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TABLE OF CONTENTS

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$3.1 million was reflected as an adjustment to accumulated deficit as of September 30, 2024 which represents estimated Iris transaction costs less $2.6 million previously recognized in expense by Iris as of September 30, 2024. The costs expensed through accumulated deficit are included in the unaudited pro forma condensed combined statement of operations for the year ended December 31, 2023 as discussed in Note 2(dd) below.

(f)

Represents the PIPE Financing issuance of 1.5 million common shares at $10.00 per share generating gross proceeds of $15.0 million.

(g)

Reflects the transfer of Iris’s Class A common shares subject to possible redemptions as of September 30, 2024 to permanent equity.

(h)

Represents the conversion of each issued and outstanding share of Iris common stock for ParentCo Common Stock in the SPAC Merger.

(i)

Reflects the recapitalization of Liminatus Class A and Class B Member Units into 17,500,000 ParentCo common shares.

(j)

Reflects the elimination of Iris’s historical accumulated deficit after recording the transaction costs to be incurred by Iris as described in Note 2(e) above.

(k)

Reflects the reclassification of the public warrants’ derivative warrant liability of $0.1 million to equity as Iris’s public warrants are expected to be equity classified upon consummation of the Business Combination.

(l)

Reflects the forfeiture of 4,177,778 private warrants held by the Sponsor immediately prior to the Business Combination resulting in a net decrease to the derivative warrant liability of $0.1 million with an offset to additional paid-in capital. The remaining outstanding private warrants issued in connection with Iris’s initial public offering, are not exercisable until 30 days after the Closing, as such, the warrant liability has not been adjusted for these private warrants.

(m)

Represents the effective settlement of $10.0 million of Liminatus’s short-term debt upon the issuance of ParentCo common shares in the recapitalization reflected in Note 2(i) above.

(n)

Represents the settlement of Iris’s related party promissory note, including the associated derivative liability, upon the consummation of the Business Combination, in cash.

(o)

Reflects the settlement of the promissory note between Iris and Liminatus upon the closing of the Business Combination

(p)

Represents fees