Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 234

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 234
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 companies to gather further information on these companies from their dataroom.

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Upon having an executed non-disclosure agreement in place, Tribe Capital Growth held introductory calls with the management of these companies wherein Tribe Capital Growth obtained an understanding of the respective capital requirements of these companies and understanding on how Tribe Capital Growth could play a role.

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Following the introductory call with the companies’ management, 19 companies provided dataroom access for Tribe Capital Growth to conduct a deep dive analysis into each of these companies. Tribe Capital Growth conducted its quantitative diligence on these companies including meetings with the senior management of the companies and their respective advisors to assess and review their respective business plans, financial projections and assumptions, their underlying opportunities and risks, historical and expected financial performance, macroeconomic trends impacting the business and operating industry, competitive positioning, track record of the senior management team, the company’s technology and potential impact from trends in the overall economy and industry, regulatory environment and benefits/ challenges related to such company engaging in a potential de-SPAC transaction with Tribe Capital Growth to become a public company.

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The above analysis resulted in Tribe Capital Growth issuing letters of intents to five potential target companies.

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TABLE OF CONTENTS

Target A: On March 10, 2021, Tribe Capital Growth signed a non-disclosure agreement with a technology-enabled healthcare provider that focused on the end-to-end patient journey via its app. Target A was backed by notable investors and was led by a structure and experienced leadership team. Target A sent out an invitation to submit a non-binding indication of interest, which Tribe Capital Growth submitted on March 29, 2021. After several discussions with the management, Tribe Capital Growth decided to explore other targets due to Target A’s valuation expectation.

Target B: Tribe Capital Growth initiated discussions with Target B, a company that provides online payments, billing, and utility expense management tools to homeowners associations and property management companies. Target B built a steady, low-churn customer base that has consistently expanded its payments revenue on its platform. A non-disclosure agreement between both parties was executed on April 19, 2021, and subsequently dataroom access was granted to the Tribe Capital Growth team for further analysis. Subsequently, Tribe Capital Growth submitted a letter of interest to Target B and initiated further discussions with Target B’s management to assess their capital requirements and understand their growth plans. However, these discussions did not materialize as Target B’s sales efficiency and overall revenue growth metrics were on the lower end of Tribe Capital