Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 142

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 142
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TABLE OF CONTENTS

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complexities associated with managing multiple payor reimbursement regimes, government payors, or patient self-pay systems;

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limits in our ability to penetrate international markets;

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financial risks, such as longer payment cycles, difficulty collecting accounts receivable, the impact of local and regional financial crises on demand and payment for our products, and exposure to foreign currency exchange rate fluctuations;

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natural disasters, political and economic instability, including wars, terrorism, and political unrest, outbreak of disease, boycotts, curtailment of trade, and other business restrictions;

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certain expenses including, among others, expenses for travel, translation, and insurance; and

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regulatory and compliance risks that relate to anti-corruption compliance and record-keeping that may fall within the purview of the FCPA, its accounting provisions or its anti-bribery provisions, or provisions of anti-corruption or anti-bribery laws in other countries.

Any of these factors could significantly harm our future international expansion and operations and, consequently, our results of operations.

Risks Related to Liminatus’s Intellectual Property

The Business Combination may give counterparties to the license agreements to which we are party (or by which we are otherwise affected) the ability to exercise rights and remedies under such agreements which, if exercised, may have material adverse consequences.

There is ambiguity as to whether the transactions contemplated by the Business Combination, including the Liminatus Merger, may be considered a change of control under certain intellectual property and technology licenses that are important to our business, including the CD47 License with InnoBation, entitling the counterparty or beneficiary to exercise certain rights and remedies. If the Business Combination is deemed to be a change of control for purposes of these agreements, the counterparty or beneficiary could have the ability, depending on the arrangement, to, among other things, make Liminatus’ exclusive license to become a non-exclusive license, declare a breach of, or default under, any assignment provision or change of control provision of the agreements, or terminate the agreements, unless they otherwise provide consent to the deemed change of control. We have not obtained the consent of the counterparties or beneficiaries of such agreements with respect to the Business Combination. Receiving such consents is not a condition to the closing of the Business Combination and would not prevent the parties from consummating the Business Combination. We intend to enter into discussions with the counterparties where appropriate to seek a waiver under, or amendment of, the agreements to avoid or