Liminatus Pharma Enters Warrant Exercise Agreement With Existing Investors To Purchase 10,344,000 Shares At $0.18 Per Share

In consideration for the immediate exercise of the Existing Warrants for cash, the exercising holders were issued new unregistered warrants to purchase an aggregate of 20,688,000 million shares of common stock (the "New Warrants"). In connection with the exercise, the Company also agreed to reduce the exercise price of the Existing Warrants to $0.18.

The proceeds to the Company from the exercise of the existing warrants are $1.9 million, prior to deducting fees to the financial advisor and estimated expenses.