Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 307

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 307
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 form of interest income on investments held in its Trust Account and changes in the fair value of its warrant liabilities.

#### IPO
The registration statement for Iris’s IPO was declared effective on March 4, 2021. On March 9, 2021, Iris consummated the IPO of 27,600,000 Units, which includes the full exercise by the underwriters of the over-allotment option to purchase an additional 3,600,000 Units, at $10.00 per Unit, generating gross proceeds of $276,000,000.

Simultaneously with the closing of the IPO, Iris consummated the sale of 5,013,333 private placement warrants to the Sponsor and Cantor, the representative of the underwriters of the IPO, at a price of $1.50 per private placement warrant, generating gross proceeds of $7,520,000. Each warrant (including the private placement warrants and the warrants included as part of the Units) entitles the holder to purchase one share of common stock at a price of $11.50 per share.

Following the closing of the IPO on March 9, 2021, $276,000,000 (approximately $10.00 per Unit) from the net proceeds of the sale of the Units in the IPO, including the proceeds from the sale of the private placement warrants, was deposited in the Trust Account, located in the United States with Continental Stock Transfer & Trust Company acting as trustee, and was invested only in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act which invest only in direct U.S. government treasury obligations. Except with respect to interest earned on the funds held in the Trust Account that may be released to Iris to pay certain taxes, the proceeds from the IPO and the sale of the Private Warrants will not be released from the Trust Account until the earliest of: (i) the completion of an initial business combination, (ii) the redemption of Iris’s public shares if it does not complete an initial business combination or amend the Iris Certificate of Incorporation within 51 months from the closing of the IPO, subject to applicable law, or (iii) the redemption of Iris’s public shares properly submitted in connection with a stockholder vote to amend the Iris Certificate of Incorporation to modify the substance