Liminatus Pharma Prices Public Offering at $0.29 per Share

Liminatus Pharma announced the pricing of its best-efforts public offering of 13,813,000 shares of its common stock and warrants to purchase up to 20,719,500 shares of common stock, at a combined public offering price of $0.29 per share and accompanying warrants. The warrants will have an exercise price of $0.29 per share, will be exercisable immediately upon issuance and will expire on the fifth anniversary of the original issuance date. The closing of the offering is expected to occur on or about February 18, 2026, subject to the satisfaction of customary closing conditions. Gross proceeds, before deducting placement agent fees and other estimated offering expenses, are expected to be approximately $4M. The potential additional gross proceeds to the Company from the exercise of the warrants, if fully exercised on a cash basis, would be approximately $6.0 million. No assurance can be given that any warrants will be exercised. Maxim Group is acting as sole placement agent in connection with this offering.