Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 234

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 234
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 that focused on mobile advertising and digital cybersecurity. However, the company required immediate cash and given the de-SPAC timeline, Iris and the company mutually agreed to end discussions.

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A South Asian fintech enabler that focused on providing e-wallet and remittance services to the unbanked and underbanked population through partnerships with banks, large corporates and MNCs. While the business model had great potential, it was not operationally ready to scale and would require several months to be PCAOB audit ready.

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A South Asian company focused on commercial production of bio-based polymers products for the fast-moving consumer goods sector. Iris engaged with the company and discussed possibilities of a de-SPAC. However, upon discussing internally with Iris’s advisors, the discussions were halted as the company’s PCAOB audit readiness would not be complete within Iris’s timeframe.

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A UK-based tech company focused on enhancing customer engagement and instant payments by merchant partnerships. The company was engaged in discussions with other SPACs in North American and received proforma deal terms from them. Following the execution of an non-disclosure agreement, Iris conducted due diligence on the company and prepared a proforma deal structure for discussion with the management of the company. The company eventually decided to further engage with another SPAC instead of Iris.

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On March 3, 2022, Iris engaged in preliminary discussions with an Australian company focused on food solutions. Target D, upon understanding the de-SPAC process, decided to not pursue this route as it was a longer process as opposed to their corporate strategy.

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On April 21, 2022, Iris initiated discussions with a trucking aggregator based out of the United Arab Emirates. After detailed negotiations on the deal mechanics, the company decided to remain private and pursue private funding rounds.

Target E: On June 17, 2022, Iris was introduced to Target E, an Israeli-based MedTech company.

On June 22, 2022, a non-disclosure agreement was signed with Target E. Subsequently, dataroom access was granted to the Iris team followed by detailed due diligence covering the company’s financials, patents, customer contracts, legal structure and management track record.

Both parties discussed the deal structuring in detail, including exploring PIPE or committed equity financing (“CEF”) routes. Iris identified and engaged with several parties to provide the target with CEF term sheets for assessment.

On September 13, 2022, the target and Iris signed a letter of intent listing out the deal terms.