New York, NY, Jan. 23, 2023 (GLOBE NEWSWIRE) — Company valuation Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, “SAGAR”) (“we”, “us”, “our”, or the “Company”) announced today that it is exercising its option to extend the time available to complete its operations. business combination to February 23, 2023 and our sponsor, Sagaliam Sponsor LLCenter the sum of $57,380.22 in the trust account of the Company for its public shareholders. This deposit enables the Company to extend the date by which the Company must complete its initial business combination January 23, 2023 to February 23, 2023 (“Extension”). The extension is the second of ten one-month extensions allowed under the Company’s governing documents.
About Company valuation Sagaliam Acquisition Corp.
We are a blank check company incorporated under the laws of State of Delaware to March 31, 2021 for the purpose of effecting a merger, capital stock exchange, acquisition, stock purchase, reorganization or similar business combination with one or more businesses or businesses, which we refer to throughout this proxy statement as our “initial business combination.” Opened November 16, 2022 we entered into a Business Combination Agreement (“BCA”) with it Rating of the company Allenby Montefiore Limiteda private company limited by shares organized and existing under the Laws of Republic of Cyprus, AEC Merger Sub Corp.a Delaware company, Rating of the company Supraeon Investments Limiteda private company limited by shares organized and existing under the Laws of the Republic of Cyprus and GLD Partners, LPa Delaware limited partnership. Completion of the business combination is subject to, among other things, the satisfaction of the conditions precedent negotiated in the BCA and the approval of the transaction by our shareholders.
This press release is not a proxy statement or the solicitation of a proxy, consent, or authorization with respect to any securities shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company, and shall not constitute a sale. of any such securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offering of securities shall be made without the use of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Company valuation Sagaliam Acquisition Corp.,Barry KosteinerChief Executive Officer
1800 Avenue of the StarsSuite 1475
Los Angeles, CA 90067
Phone: (213) 616-0011
Source: Company valuation Sagaliam Acquisition Corp
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