Company: LIMN
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001410578-25-001746
Chunk: 331

Company: Liminatus Pharma, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 331
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 of the instrument or to recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting

<div align='center'>F-91</div>

period. The Company recognizes changes in redemption value immediately as they occur. Immediately upon the closing of the IPO, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable common stock resulted in charges against additional paid-in capital and accumulated deficit. As of December 31, 2024 and December 31, 2023, the common stock reflected on the balance sheets are reconciled in the following table:

| ​                                                                         | ​ | ​ |           ​ |
|:--------------------------------------------------------------------------|:--|:--|------------:|
| Class A common stock subject to possible redemption at January 1, 2023    |   | $ |  15,127,621 |
| Less: Remeasurement of carrying value to redemption value                 | ​ | ​ |    -420,786 |
| Less: 2023 adjustment to share price for shares redeemed in December 2022 | ​ | ​ |    -298,431 |
| Less: Shares redeemed in September 2023                                   | ​ | ​ | -10,358,754 |
| Class A common stock subject to possible redemption as December 31, 2023  | ​ | ​ |   4,049,650 |
| Less: Shares redeemed in 2024                                             | ​ | ​ |  -2,542,064 |
| Plus: Remeasurement of carrying value to redemption value                 | ​ | ​ |     248,882 |
| Class A common stock subject to possible redemption as December 31, 2024  | ​ | $ |   1,756,468 |

Warrants—Each whole warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment as discussed herein. In addition, if (x) the Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A common stock (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the initial stockholders