Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 49

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 49
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 Business Combination (except, in certain limited circumstances, to Iris’s officers, directors and other persons or entities affiliated with the initial purchasers of the Private Placement Warrants), and they will not be redeemable by us so long as they are held by the initial purchasers of the Private Placement Warrants or their or its permitted transferees. The initial purchasers, or their permitted transferees, have the option to exercise the Private Placement Warrants on a cashless basis. Except as described herein, the Private Placement Warrants have terms and provisions that are identical to those of the Public Warrants. If the Private Placement Warrants are held by holders other than the initial purchasers or their permitted transferees, the private warrants will be redeemable by Iris (or ParentCo after the consummation of the Business Combination) for cash and exercisable by the holders on the same basis as the Public Warrants.

Public Warrant holders should understand the following risks relating to the Public Warrants following the Business Combination:

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Public Warrant holders will only be able to exercise their warrants on a “cashless basis” if ParentCo does not maintain a current and effective prospectus relating to the shares of ParentCo Common Stock issuable upon exercise of the warrants;

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that the market price of ParentCo Common Stock may never equal or exceed the exercise price of the warrants;

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ParentCo may redeem the Public Warrants prior to their exercise at a time that is disadvantageous to Public Warrantholders, thereby making such warrants worthless. More specifically, ParentCo

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will have the ability to redeem outstanding Public Warrants at any time after they become exercisable and prior to their expiration, at a price of $0.01 per warrant, provided that the last reported sales price of the ParentCo Common Stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within the 30 trading-day period ending on the third business day prior to the date on which ParentCo gives proper notice of such redemption and there is a current registration statement in effect with respect to the shares of common stock underlying such warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption. For context, recent common stock trading prices have not met or exceeded the $18.00 threshold that