Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 310

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 310
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, the per-share redemption amount received by stockholders upon Iris’s dissolution would be approximately $10.00. The proceeds deposited in the Trust Account could, however, become subject to the claims of Iris’s creditors which would have higher priority than the claims of Iris’s public stockholders. Iris cannot assure you that the actual per-share redemption amount received by stockholders will not be substantially less than $10.00. Under Section 281(b) of the DGCL, Iris’s plan of dissolution must provide for all claims against it to be paid in full or make provision for payments to be made in full, as applicable, if there are sufficient assets. These claims must be paid or provided for before Iris makes any distribution of its remaining assets to its stockholders. While Iris intends to pay such amounts, if any, Iris cannot assure you that it will have funds sufficient to pay or provide for all creditors’ claims.

Although Iris will seek to have all vendors, service providers, prospective target businesses and other entities with which Iris does business (other than Iris’s independent registered public accounting firm) execute agreements with Iris waiving any right, title, interest or claim of any kind in or to any monies held in the Trust Account for the benefit of its public stockholders, there is no guarantee that they will execute such agreements or even if they execute such agreements that they would be prevented from bringing claims against the Trust Account including but not limited to fraudulent inducement, breach of fiduciary responsibility or other similar claims, as well as claims challenging the enforceability of the waiver, in each case in order to gain an advantage with respect to a claim against Iris’s assets, including the funds held in the Trust Account. If any third party refuses to execute an agreement waiving such claims to the monies held in the Trust Account, Iris’s management will perform an analysis of the alternatives available to it and will only enter into an agreement with a third party that has not executed a waiver if management believes that such third party’s engagement would be significantly more beneficial to Iris than any alternative. Examples of possible instances where Iris may engage a third party that refuses to execute a waiver include the engagement of a third-party consultant whose particular expertise or skills are believed by management to be significantly superior to those of other consultants that would agree to execute a waiver or in cases where management is unable to find a service provider willing to execute a waiver. The underwriter of Iris’s IPO will not execute agreements with Iris waiving such claims to the monies held in the Trust Account