Company: LIMN
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001104659-25-010605
Chunk: 91

Company: Liminatus Pharma, Inc.
Filing Date: 2025-02-07
Form: 424B3
Chunk 91
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 the extent of distributions they received.

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Risks related to the delisting of Iris’s securities by Nasdaq.

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Risks related to Iris being deemed to be an investment company under the Investment Company Act.

Risks Related to the Business Combination

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The Sponsor, Iris’s directors and executive officers, and their affiliates, own interests in Iris that will be worthless if the transactions are not approved, which may have influenced their decisions.

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Iris may not be able to realize the anticipated benefits from the Business Combination.

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Each of Iris and Liminatus will incur substantial costs in connection with the Business Combination.

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Iris’s ability to consummate the Business Combination may be negatively impacted because neither the Iris Board nor any committee of the Iris Board obtained a fairness opinion in determining whether or not to pursue the Business Combination, and as a result, the terms may not be fair from a financial point of view to Iris’s stockholders.

Risks Related to Ownership of ParentCo Common Stock Following the Business Combination

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If the perceived benefits of the Business Combination do not meet the expectations of investors or securities analysts, the market price of ParentCo’s securities or, following the Business Combination, Liminatus’s securities, may decline.

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Liminatus will be an emerging growth company, and it cannot be certain if the reduced reporting requirements applicable to emerging growth companies will make its shares less attractive to investors.

Risks Related to Redemptions

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If Iris’s stockholders fail to properly request redemption rights, they will not be entitled to redeem their shares for a pro rata portion of the Trust Account.

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Iris’s public stockholders, together with any persons with whom they are acting as a “group”, will be restricted from seeking redemption rights with respect to more than 15% of public shares.

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There is no guarantee that a public stockholder’s decision whether to redeem shares for a pro rata portion of the Trust Account will put such stockholder in a better future economic position.

Risks If the Adjournment Proposal Is Not Approved

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If the adjournment proposal is not approved, and Iris is not otherwise authorized to consummate the Business Combination, the Business Combination will not be approved.

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TABLE OF CONTENTS

SUMMARY HISTORICAL FINANCIAL INFORMATION OF IRIS The following table contains summary historical financial data as of and for the years ended December 31, 2023 and December 31, 2022 and as of and for the nine months ended