Iris Acquisition Corp restates Q2 and Q3 2024 financials over undisclosed related party loan

Iris Acquisition Corp

Determined unaudited financials for June 30, 2024 and Sept 30, 2024 should no longer be relied upon.
A $1.216M loan from Hana Immunotherapeutics (affiliate of Liminatus Pharma CEO) to fund sponsor managing member acquisition was omitted.
Loan was a material related party transaction that required disclosure; Audit Committee discussed with auditor Marcum LLP.
Loan settled on Dec 29, 2024 via delivery of shares in a private Korean company.
Former managing member Columbass resigned Oct 30, 2024; Iris Equity Holdings appointed as managing member.

item 4.02 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

Iris Acquisition Corp reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Marcum LLP

Exact text from the filing

determined that the unaudited financial statements for the quarters ended June 30, 2024 and September 30, 2024 should no longer be relied upon.

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Source: SEC EDGAR

accession 0001104659-25-003545

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