Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 238

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 238
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 (by Iris and certain of its advisors), Iris and Liminatus executed a letter of intent (as amended, the “Business Combination LOI”).

On November 2, 2022, an all-party call was held among Liminatus, Iris and their respective legal teams. The primary purposes of this call were to introduce the advisors and discuss next steps. Iris engaged third party subject matter experts to support and advise Iris management on assessing Liminatus as a potential target for a business combination, including experts to conduct due diligence on Liminatus’s intellectual property portfolio and regulatory and scientific matters related to Liminatus.

On November 3, 2022, Iris management met with the Iris Board to brief the Iris Board about Liminatus, potential deal terms and preliminary sector analysis.

On November 5, 2022, Iris and Liminatus had detailed discussions and exchanged draft versions of certain ancillary agreements related to the business combination.

On November 7, 2022, Iris received certain reports containing preliminary due diligence findings by its advisors. Additionally, Iris initiated the process to extend the timeline to complete a business combination and commenced work on the preliminary proxy statement related to such extension.

On November 8, 2022, an all-party call was conducted among Iris, Liminatus and their respective legal teams to discuss on-going due diligence.

From November 10 through November 14, 2022, Iris, Liminatus, and their respective advisors exchanged due diligence queries and responses. From November 15 through November 19, 2022, Iris received additional due diligence reports from its advisors and subsequently discussed such reports with Liminatus. Additional discussions between Iris, Liminatus, and their respective legal teams resulted in continued progress on the Business Combination Agreement, PIPE Agreement, Convertible Note Subscription Agreement and Equity Subscription Agreement.

From November 20 through November 28, 2022, Iris engaged with its advisors to prepare a presentation for the Iris Board (which presentation included an assessment of market comparables, material due diligence findings, and company valuation and sector analysis).

From November 29 through November 30, 2022, Iris, in discussion with its legal advisors, prepared Iris’s portion of the disclosure schedules to the Business Combination Agreement, along with certain other ancillary documents related thereto. Additionally, Iris engaged with Liminatus to address queries brought forward by the Iris Board. Subsequent to such queries being answered, the Iris Board provided its approval to enter into the Business Combination Agreement. Following the