SAGALIAM ACQUISITION CORP. CONFIRMS FUNDING AND EXTENSION OF DEADLINE TO COMPLETE INITIAL BUSINESS COMBINATION
23 Enero 2023 - 5:20AM
Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, “SAGAR”)
(“we”, “us”, “our”, or the “Company”) announced today that it was
exercising its option to extend the time available to consummate
its business combination to February 23, 2023 and our sponsor,
Sagaliam Sponsor LLC, has deposited an aggregate of $57,380.22 into
Company’s trust account for its public stockholders. This deposit
enables the Company to extend the date by which the Company has to
complete its initial business combination from January 23,
2023 to February 23, 2023 (the “Extension”). The Extension is the
second of ten one-month extensions permitted under the Company’s
governing documents.
About Sagaliam Acquisition
Corp.
We are a blank check company incorporated under
the laws of the State of Delaware on March 31, 2021 for the purpose
of effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with
one or more businesses or entities, which we refer to throughout
this proxy statement as our “initial business combination.” On
November 16, 2022 we entered into a Business Combination Agreement
(the “BCA”) with Allenby Montefiore Limited, a private company
limited by shares organized and existing under the Laws of the
Republic of Cyprus, AEC Merger Sub Corp., a Delaware corporation,
Supraeon Investments Limited, a private company limited by shares
organized and existing under the Laws of the Republic of Cyprus and
GLD Partners, LP, a Delaware limited partnership. Completion of the
business combination is subject to, among other matters, the
satisfaction of the conditions precedent negotiated in the BCA and
the approval of the transaction by our stockholders.
Non-Solicitation
This press release is not a proxy statement or
solicitation of a proxy, consent, or authorization with respect to
any securities shall not constitute an offer to sell or a
solicitation of an offer to buy the securities of the Company, nor
shall there be any sale of any such securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. No offer of
securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act of 1933, as
amended.
CONTACT
INFORMATION
Sagaliam Acquisition Corp.,Barry Kostiner, Chief
Executive Officer1800 Avenue of the Stars, Suite 1475Los Angeles,
CA 90067Tel: (213) 616-0011bkostiner@fintecham.com
Sagaliam Acquisition (NASDAQ:SAGAU)
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