Company: LIMN
Filing Date: 2025-06-24
Form Type: S-1
Source: 0001410578-25-001432
Chunk: 335

Company: Liminatus Pharma, Inc.
Filing Date: 2025-06-24
Form: S-1
Chunk 335
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 ​ | $              |     2,202 | ​ | $       |         — | ​ | $       | — | ​ | $       |   2,202 |

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, 2024 and December 31, 2023, 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, 2024 and December 31, 2023. For December 31, 2024 and December 31, 2023, 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 Warrants were as follows at initial measurement, December 31, 2024 and December 31, 2023:

| ​                       | ​ 
 ​ | ​ |                 ​ 
 December 31, 2024 | ​ | ​ |                 ​ 
 December 31, 2023 | ​ |
|:------------------------|:--|:--|------------------:|:--|:--|------------------:|:--|
| Risk-free interest rate | ​ | ​ |              4.19 | % | ​ |              4.91 | % |
| Expected term (years)   | ​ | ​ |              0.80 | ​ | ​ |              0.87 | ​ |
| Expected volatility     | ​ | ​ |                 — | % | ​ |               5.7 | % |
| Stock Price             | ​ | $ |             11.22 | ​ | $ |             10.33 | ​ |
| 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:

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