Company: LIMN
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001410578-25-001746
Chunk: 324

Company: Liminatus Pharma, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 324
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 Company’s control) is classified as a component of temporary equity. At all other times, shares of common stock are classified as stockholders’ equity. The Company’s common stock

<div align='center'>F-87</div>

features certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, common stock subject to possible redemption is presented at redemption value of $10.07 and $9.96 as of December 31, 2024 and December 31, 2023, respectively, as temporary equity, outside of the stockholders’ equity section of the Company’s balance sheets. Net Loss Per Common Stock The Company complies with accounting and disclosure requirements of ASC Topic 260, Earnings Per Share. The Company has two classes of shares, which are referred to as Class A common stock and Class B common stock (see Note 8 for more details). Earnings and losses are shared pro rata between the two classes of shares. The Company has not considered the effect of the warrants sold in the IPO and the Private Placement to purchase an aggregate of 11,913,333 of the Company’s Class A common stock in the calculation of diluted income (loss) per share, since their exercise is contingent upon future events. As a result, diluted net income (loss) per share of common stock is the same as basic net income (loss) per share of common stock for the periods. Accretion of the carrying value of Class A common stock to redemption value is excluded from net income (loss) per common stock because the redemption value approximates fair value. The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per share for each class of common stock:

| ​                                                     
 ​                                                     | ​ 
 ​ | ​                            
 Year Ended December 31, 2024 |          ​ | ​ | ​       | ​ | ​ 
 ​ | ​                            
 Year Ended December 31, 2023 |         ​ | ​ | ​       |         ​ |
|:------------------------------------------------------|:--|:-----------------------------|-----------:|:--|:--------|:--|:--|:-----------------------------|----------:|:--|:--------|----------:|
| ​                                                     |   | Class A                      |            |   | Class B |   |   | Class A                      |           |   | Class B |           |
| Basic and diluted net loss                            | ​ | ​