Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 287

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 287
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 shares of our common stock were held on the date of the SPAC Merger. Every “significant transferor” pursuant to the exchange must include a statement on or with such transferor’s income tax return for the taxable year of the exchange. For this purpose, a significant transferor is generally a person that transferred property to a corporation and received stock of the transferee corporation if, immediately after the exchange, such person: (i) owns at least five percent (5%) (by vote or value) of the total outstanding stock of the transferee corporation if the stock owned by such person is publicly traded, or (ii) owned at least one percent (1%) (by vote or value) of the total outstanding stock of the transferee corporation if the stock owned by such person is not publicly traded. It is expected that the ParentCo Common Stock will be publicly traded for this purpose.

If the Mergers do not qualify as a tax-deferred transaction under Section 351 of the Code (and the SPAC Merger does not qualify as a tax-deferred reorganization under Section 368 of the Code), then a U.S. holder of our common stock that exchanges such common stock solely for ParentCo Common Stock pursuant to the SPAC Merger would be required to recognize gain or loss equal to the difference, if any, between (i) the fair market value of the ParentCo Common Stock received by such U.S. holder in the SPAC Merger and (ii) such U.S. holder’s adjusted tax basis in our common stock exchanged. A U.S. holder would have an aggregate tax basis in any ParentCo Common Stock received in the SPAC Merger that is equal to the fair market value of such ParentCo Common Stock as of the effective date of the SPAC Merger, and the holding period of such ParentCo Common Stock would begin on the day following the SPAC Merger.

Tax Consequences of the Business Combination to Holders of Public Warrants. The warrants are currently exercisable for one share each of our common stock and will be exchanged in the SPAC Merger for ParentCo warrants exercisable for one share each of ParentCo Common Stock following the Business Combination.

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If the SPAC Merger qualifies as a tax-deferred reorganization under Section 368 of the Code, a holder of Public Warrants would not recognize any gain or loss on the exchange of Public Warrants for ParentCo warrants pursuant to