SAGALIAM ACQUISITION CORP. CONFIRMS FUNDING AND EXTENSION OF DEADLINE TO COMPLETE BUSINESS COMBINATION
24 4월 2023 - 7:15PM
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 May 23, 2023.
Membership Interest Purchase
Agreement
On March 23, 2023, GLD Sponsor Member, LLC, a
Delaware limited liability company (the “Seller”), entered into a
Membership Interest Purchase Agreement (the “Purchase Agreement”)
with BN Holdings Trust, a Nevada Trust (“BN Holdings Trust”) and
Sagaliam Sponsor, LLC (the “Sponsor”), pursuant to which BN
Holdings Trust agreed to purchase all of the issued and outstanding
equity interests in the Sponsor from the Seller, which constitutes
100% of the membership interests in the Sponsor. The consummation
of the transactions contemplated by the Purchase Agreement (the
“Closing”) is expected to take place at 10:00 am, New York
time, on or before April 28, 2023.
Business Combination
Extension
The date by which the Company has to complete
its business combination has been extended by the Company from
April 23, 2023 to May 23, 2023 (the “Extension”) by depositing
$57,380.22 into the trust account for its public stockholders. The
Extension is the fifth of ten one-month extensions permitted under
the Company’s governing documents and provides the Company with
additional time to complete its business combination.
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. Sagaliam intends to continue to
pursue the consummation of a business combination with an
appropriate target.
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:SAGA)
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Sagaliam Acquisition (NASDAQ:SAGA)
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