Company: LIMN
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001410578-25-001746
Chunk: 104

Company: Liminatus Pharma, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 104
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 for the Business Combination The Business Combination was accounted for as a reverse recapitalization in accordance with GAAP, whereby Iris was treated as the acquired company and Liminatus was treated as the acquirer, which is now a wholly owned subsidiary of ParentCo. Accordingly, for accounting purposes, the financial statements of the Combined Company represent a continuation of the financial statements of Liminatus, with the Business Combination treated as the equivalent of Liminatus issuing stock for the net assets of Iris, accompanied by a recapitalization. The net assets of Iris are stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination are those of Liminatus. Liminatus has been determined to be the accounting acquirer based on an evaluation of the following facts and circumstances:

| ● | Liminatus’s existing shareholders have a majority of the voting power; |

| ● | the Combined Company’s board consists of four directors, three of whom can be designated by Liminatus and one of whom can be designated by Iris; |

| ● | all of Liminatus’s existing management will continue in their key positions in the management team of the Combined Company; and |

| ● | Liminatus’s operations prior to the Business Combination comprise the ongoing operations. |

Basis of Pro Forma Presentation The unaudited pro forma combined financial information has been prepared in accordance with Article 11 of Regulation S-X. The adjustments in the unaudited pro forma combined financial information have been identified and presented to provide relevant information necessary for an illustrative understanding of the Combined Company upon consummation of the Business Combination and the other events contemplated by the Business Combination Agreement in accordance with GAAP.

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Assumptions and estimates underlying the unaudited pro forma adjustments set forth in the unaudited pro forma combined financial information are described in the accompanying notes. The unaudited pro forma combined financial information has been presented for illustrative purposes only and is not necessarily indicative of the operating results and financial position that would have been achieved had the Business Combination occurred on the dates indicated, and does not reflect adjustments for any anticipated synergies, operating efficiencies, tax savings or cost savings. Any cash proceeds remaining after the consummation of the Business Combination and the other events contemplated by the Business Combination Agreement are expected to be used for general corporate purposes. Further, the unaudited pro forma combined financial information does not purport to project the future operating results or financial position of the Combined Company following the consummation of the