Company: LIMN
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001410578-25-001746
Chunk: 290

Company: Liminatus Pharma, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 290
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 redemption to be classified outside of permanent equity.

The Class A common stock is subject to SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to either accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or to recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company recognizes changes in redemption value immediately as they occur. Immediately upon the closing of the IPO, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable common stock resulted in charges against additional paid-in capital and accumulated deficit.

<div align='center'>F-67</div>

As of March 31, 2025 and December 31, 2024, the common stock reflected on the unaudited condensed balance sheets are reconciled in the following table:

| ​                                                                           | ​ | ​ |         ​ |
|:----------------------------------------------------------------------------|:--|:--|----------:|
| Class A common stock subject to possible redemption as of December 31, 2024 |   | $ | 1,756,468 |
| Less: 2024 adjustment to share price for shares redeemed in December 2024   | ​ |   |    -1,826 |
| Less: Shares redeemed in March 2025                                         | ​ |   |  -702,359 |
| Plus: Remeasurement of carrying value to redemption value                   | ​ |   |    37,585 |
| Class A common stock subject to possible redemption as of March 31, 2025    | ​ | $ | 1,089,868 |

Upon the closing of the Business Combination, holders of the Company’s Class A common stock received 7,014,633 shares of the combined company’s common stock. Warrants— Each whole warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment as discussed herein. In addition, if (x) the Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of the initial Business