Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 225

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 225
---
 terms and conditions of the Business Combination Agreement, the Business Combination will result in, among other things, the following:

•

immediately prior to the effective time of the Mergers (the “Effective Time”), every issued and outstanding Unit will be automatically separated and broken out into its constituent parts and the holder thereof shall be deemed to hold one share of Iris Class A Common Stock and one-fourth of one Public Warrants, and such underlying constituent securities of Iris shall be converted in accordance with the applicable terms of the Business Combination Agreement, and in accordance with the terms of the Warrant Agreement (defined below), no fractional Public Warrants shall be issued upon separation of the outstanding Iris Units, but shall instead be rounded down to the nearest whole Public Warrant;

•

at the Effective Time, each issued and outstanding share of Iris Class A Common Stock will be converted automatically into and thereafter represent the right to receive one share of ParentCo Common Stock, following which all shares of Iris Class A Common Stock will cease to be outstanding and will automatically be canceled and will cease to exist, and the holders of certificates previously evidencing shares of Iris Class A Common Stock outstanding immediately prior to the Effective Time

<div align='center'>104</div>

TABLE OF CONTENTS

will cease to have any rights with respect to such shares, except as provided in the Business Combination Agreement or by applicable Law, and each certificate formerly representing shares of Iris Class A Common Stock will thereafter represent only the right to receive the relevant amount for such shares of Iris Class A Common Stock in accordance with the applicable provisions of law and Iris’s governing documents;

•

at the Effective Time, each issued and outstanding Public Warrant will, in accordance with the terms of the Warrant Agreement, immediately and automatically represent the right to purchase shares of ParentCo Common Stock on the same terms and conditions as are set forth in the Warrant Agreement (each a “ParentCo Public Warrant”);

•

at the Effective Time, each issued and outstanding private placement warrant of Iris, except those issued to Cantor, will be forfeited. In accordance with the terms of the Warrant Agreement, the private placement warrants issued to Cantor shall immediately and automatically represent the right to purchase shares of ParentCo Common Stock on the same terms and conditions as are set forth in the Warrant Agreement (each a “ParentCo Private Placement Warrant”); and

•

at the Effective Time, each share of common stock of SPAC Merger Sub outstanding immediately prior to the Effective Time will be converted into an equal number of