Company: LIMN
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001410578-25-001518
Chunk: 336

Company: Liminatus Pharma, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 336
---
 closing of a business combination. At December 31, 2024 and December 31, 2023, the total balance outstanding on the promissory notes - related party amounted to $ 1,453,720and $ 1,452,381, respectively, which are net of the debt discount of $ 0and a $ 1,339, respectively. Related Party Loans In addition, in order to fund working capital deficiencies or finance transaction costs in connection with an intended Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required on a non-interest bearing basis (“Working Capital Loans”). If the Company completes the initial Business Combination, the Company will repay the Working Capital Loans. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans, but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to $ 1,500,000of such Working Capital Loans may be convertible into warrants of the post-Business Combination entity at a price of $ 1.50per warrant at the option of the lender. Such warrants would be identical to the Private Warrants. During the year ended December 31, 2023, the Company obtained proceeds of $ 400,000from the Sponsor to use for the payment of vendors. Before these proceeds were disbursed to vendors,

<div align='center'>F-94</div>

Management decided to repay the outstanding balance in full. As of December 31, 2024 and December 31, 2023, the Company had noborrowings under the Working Capital Loans. In addition, in order to fund the extension payments, the Sponsor or its designees has agreed to loan to the Company the lesser of: (x) $ 50,000and (y) $ 0.035per month for each public share that is not redeemed (the “Extension Payments Loan”). During March 2024, the agreed Extension Payments Loan payments were updated to the lesser of: (x) $ 30,000and (y) $ 0.06per month for each public share that is not redeemed. During September 2024, the agreed Extension Payments Loan payments were updated to the lesser of: (x) $ 17,000and (y) $ 0.06per month for