Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 85

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 85
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 function, with respect to the fairness of the Transaction, including the fairness of the consideration to be received by Iris’s stockholders in connection with the Transaction. The Iris Board believes because of the skills and background of its officers and directors, it was qualified to conclude that the Transaction was fair from a financial perspective to its stockholders and that Liminatus’s fair market value was at least 80% of the balance of the funds in the Trust Account (excluding any taxes payable). The Iris Board was aware of and considered these interests, among other matters, in reaching the determination that the Transactions contemplated by the Business Combination Agreement were advisable and in the best interests of Iris and its stockholders. See “ — Interests of Certain Persons in the Business Combination .”

### Interests of Certain Persons in the Business Combination
In considering the recommendation of the Iris Board to vote in favor of the Business Combination Proposal, stockholders should be aware that, aside from their interests as stockholders, the Sponsor and certain of Iris’s directors and officers have interests in the Business Combination that are different from or in addition to (and may conflict with) those of other stockholders. Iris’s directors were aware of and considered these interests in evaluating the Business Combination and in recommending to stockholders that they approve the Business Combination. Stockholders should take these interests into account in deciding whether to approve the Business Combination. These interests include:

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the fact that the Sponsor holds 6,900,000 Founder Shares and 4,177,778 Private Placement Warrants, which would expire worthless if a business combination is not consummated;

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the fact that, unless Iris consummates the Business Combination, the Sponsor will not receive reimbursement for any out-of-pocket expenses incurred by an affiliate on behalf of Iris ($75,000 of such expenses were incurred that had not been reimbursed as of September 30, 2024) to the extent that such expenses exceed the amount of available proceeds not deposited in the Trust Account;

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the fact that the Sponsor has made outstanding loans to Iris in the aggregate amount of approximately $1,453,720 as of September 30, 2024, which amount Iris will be unable to repay to the Sponsor to the extent that the amount of such loans exceeds the amount of available proceeds not deposited in the Trust Account if a business combination is not completed;

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the fact that, if the Trust Account is liquidated, including in the event we are unable to complete an initial business combination within the required time period, the Sponsor has agreed to indemnify