---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-045127"
form_type: "8-K"
ticker: "LIMN"
cik: "0001971387"
company_name: "Liminatus Pharma, Inc."
filed_at: "2025-05-06T23:59:59+00:00"
generated_at: "2026-05-22T14:36:49.787318+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Liminatus Pharma completes de-SPAC merger, receives $15M PIPE, begins Nasdaq trading

## Summary
- Closed de-SPAC merger with Iris Acquisition Corp; issued 17.5M shares at $10/share ($175M equity value) to Liminatus securityholders.
- Concurrent $15M PIPE investment (1.5M shares at $10) from accredited investor.
- Sponsor forfeited 4.18M private placement warrants; 59,844 public shares redeemed for ~$702k.
- Liminatus Pharma, a pre-clinical CD47 checkpoint inhibitor developer, reported FY2024 net loss of $3.5M, accumulated deficit $28.7M.
- Common stock (LIMN) and warrants (LIMNW) began trading on Nasdaq May 1, 2025.

## SEC filing metadata
- accession: 0001104659-25-045127
- form_type: 8-K
- ticker: LIMN
- cik: 0001971387
- company_name: Liminatus Pharma, Inc.
- filed_at: 2025-05-06T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 5.02, 3.02, 4.01, 9.01, 3.03, 5.01, 5.03, 5.05, 5.06, 7.01, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1971387/000110465925045127/0001104659-25-045127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1971387/000110465925045127/tm2513673d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-045127
- JSON: https://secwatch.observer/filing/0001104659-25-045127.json
- Plain text: https://secwatch.observer/filing/0001104659-25-045127.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.