Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 405

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 405
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 CONTENTS

#### Loan
On December 13, 2024, the Company was notified that on July 24, 2024, Hana Immunotherapeutics, LLC, an affiliate of Chris Kim, agreed to loan the buyer of the former managing member of the Sponsor approximately $1.216 million to facilitate the acquisition of the former managing member (the “Acquisition”). As a result of the Acquisition, the former managing member, Columbass Limited, resigned as managing member of the Sponsor on October 30, 2024, and Iris Equity Holdings LLC was appointed as managing member of the Sponsor. Other than repayment of the principal and interest on the loan, which has been settled through the delivery of shares in a private Korean company, Mr. Kim has stated that he has no affiliation or other relationship with the Sponsor, any of the Sponsor’s members, including the former and new managing member or the buyer of the former managing member of our Sponsor.

#### Advances
To assist in meeting the Company’s ongoing working capital needs, Liminatus agreed to provide us with a series of advances from the proceeds of the business combination to be received by Liminatus at the closing of the business combination. The amount of each advance will be determined on an ongoing case-by-case basis through the closing of the business combination. We received the first advance on August 2, 2023, in the amount of $250,000, and the second advance in the amount of $100,000 on September 11, 2023. On November 27, 2023, December 11, 2023, December 21, 2023, January 5, 2023, April 2, 2024, May 7, 2024, May 13, 2024, June 3, 2024, August 1, 2024, August 29, 2024, November 1, 2024, December 2, 2024, and January 2, 2025, we obtained additional advances under the Liminatus unsecured promissory note totaling $3,568,500, which resulted in a total outstanding principal balance of $3,918,500. The Company and Liminatus have finalized formal repayment terms in a promissory note dated October 4, 2023. Pursuant to the promissory note, the principal balance of the note will be due at the closing of the Business Combination. Interest on the promiss