Company: LIMN
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001410578-25-001746
Chunk: 114

Company: Liminatus Pharma, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 114
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000 |
| Equity PIPE Investor                                                     | ​ | ​                  |          1,500,000 | ​ | ​ |         1,500,000 |
| Liminatus Members                                                        | ​ | ​                  |         17,500,000 | ​ | ​ |        17,500,000 |
| Pro forma weighted average Class A shares calculation, basic and diluted | ​ | ​                  |         26,714,633 | ​ | ​ |        26,714,633 |

74

<div align='center'>MARKET INFORMATION OF OUR SECURITIES</div>

Market Information

Our Common Stock and Public Warrants are listed on The Nasdaq Global Market and The Nasdaq Capital Market, respectively, and began trading on Nasdaq under the symbols “LIMN” and “LIMNW,” respectively, on May 1, 2025. On July 23, 2025, the last reported sales price of our Common Stock was $6.47 per share and the last reported sales price of our Public Warrants was approximately $0.2775 per warrant. As of July 23, 2025, there were approximately 7 holders of record of our Common Stock, 1 holder of record of the Public Warrants, and 1 holder of the Private Warrants. Such numbers do not include beneficial owners holding our securities through nominee names.

Dividend Policy

We have not paid any cash dividends on our Common Stock to date. The payment of cash dividends by us in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition. The payment of any dividends will be within the discretion of our board of directors.

<div align='center'>75</div>

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS OF LIMINATUS Unless the context otherwise requires, for purposes of this section, the terms “we,” “us,” “our,” “the Company” or “Liminatus” refer to Liminatus Pharma, LLC prior to the consummation of the Business Combination and to Liminatus Pharma, Inc. following the Business Combination. You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and related notes included elsewhere in this prospectus. Some of the information contained in this discussion and analysis or set forth elsewhere herein, including information with respect to our plans and strategy for our business and related financing, includes forward-looking statements