Company: LIMN
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001410578-25-001518
Chunk: 113

Company: Liminatus Pharma, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 113
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 and Liminatus upon the closing of the Business Combination |

| (o) | Represent fees to be paid to Benjamin Securities, Inc. pursuant to a Capital Markets Advisory Agreement whereby Benjamin Securities, Inc. will assist ParentCo in meeting the initial listing standards of Nasdaq. This adjustment has been shown as a reduction in additional paid-in capital, as it is a cost of issuing equity securities. |

| (p) | Reflects the payment made by upon the consummation of the Business Combination for D&O insurance, which will be utilized by the post-combination Company. |

Transaction Accounting Adjustments to Unaudited Pro Forma Combined Statement of Operations The transaction accounting adjustments included in the unaudited pro forma combined statement of operations for the three months ended March 31, 2025 and the year ended December 31, 2024 are as follows:

| (aa) | Reflects an adjustment to eliminate interest income related to the Trust Account. |

| (cc) | Reflects the elimination of the change in fair value of the 4,177,778 forfeited private warrants. |

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| (ff) | Reflects an adjustment to eliminate income taxes due to interest income related to the Trust Account. |

| 3. | Loss per Share |

The following represents the net loss per share calculated using the historical weighted average shares of Liminatus exchanged common shares outstanding, and the issuance of additional shares in connection with the Business Combination and other related events, assuming the shares were outstanding since January 1, 2024. As the Business Combination and other related events are being reflected as if they had occurred at the beginning of the period presented, the calculation of weighted average shares outstanding for basic and diluted net loss per share assumes that the shares issuable in connection with the Business Combination have been outstanding for the entire period presented. No unexercised stock options and warrants, which are discussed elsewhere in this filing, were included in the earnings per share calculation as they would be anti-dilutive.

|                                                                          | ​ | ​                  |                  ​ 
 Three Months Ended 
     March 31, 2025 | ​ |   |        Year Ended 
 December 31, 2024 |
|:-------------------------------------------------------------------------|:--|:-------------------|-------------------:|:--|:--|------------------:|
|                                                                          | ​ | Pro Forma Combined |                    |   |   |                   |
| Pro forma net loss (dollars in thousands)                                | ​ | $