Company: LIMN
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001410578-25-001518
Chunk: 295

Company: Liminatus Pharma, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 295
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 12.00per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like) for any 20trading days within any 30-trading day period commencing at least 150 daysafter the initial Business Combination, the Founder Shares will be released from the lock-up.

F-69

Promissory Note — Related Party On May 27, 2022, the Sponsor agreed to loan the Company up to $ 300,000for working capital purposes. These loans are non-interest bearing, unsecured and are due on demand. As of March 31, 2025 and December 31, 2024, the outstanding note is due on demand. On October 10, 2022, the Company issued an unsecured promissory note in the aggregate principal amount up to $ 550,000to Iris Acquisition Holdings LLC, the Company’s Sponsor. Pursuant to the Note, the Sponsor agreed to loan to the Company an aggregate amount up to $ 550,000payable on demand. The Note does not bear interest. In the event that the Company does not consummate a business combination, the Note will be repaid only from amounts remaining outside of the Company’s trust account, if any. The proceeds of the Note will be used by the Company for working capital purposes. As of March 31, 2025 and December 31, 2024, the Company’s outstanding balance was $ 540,000under this loan. On December 20, 2022, the Company issued an unsecured promissory note in the aggregate principal amount up to $ 750,000 to the Company’s Sponsor. Pursuant to the Note, the Sponsor agreed to loan to the Company an aggregate amount up to $ 750,000 , which was due the earlier of six months or the consummation of a business combination. As of March 31, 2025 and December 31, 2024, the Note is due and payable on demand. The Note does not bear interest. Upon the closing of a business combination, the Company shall pay an amount equal to 150% of the principal amount. In the event that the Company does not consummate a business combination, the Note will be repaid only from amounts remaining outside of the Company’s trust account, if any. The proceeds of the Note will be used by the Company for working capital purposes. As of March 31, 2025 and December 31,