Form 10-Q,
Acquisition,
Corporate finance,
File,
Calendar,
Disclosure,
Form,
Letter,
Audit committee,
Business analyst,
Notification,
Bank statement,
Failure,
Cryptocurrency New York, NY, March 07, 2024 (GLOBE NEWSWIRE) -- Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, SAGAR”) (the “Company”) received a Nasdaq Hearing Withdrawal letter (“Notice”) from the Listing Qualifications staff of the Nasdaq Stock Market LLC (“Nasdaq”) on March 6, 2024.
Key Points:
- New York, NY, March 07, 2024 (GLOBE NEWSWIRE) -- Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, SAGAR”) (the “Company”) received a Nasdaq Hearing Withdrawal letter (“Notice”) from the Listing Qualifications staff of the Nasdaq Stock Market LLC (“Nasdaq”) on March 6, 2024.
- On November 27, 2023, the Company filed its delinquent Form 10-Q for the period ended March 31, 2023, disclosing total shares outstanding of 49,346,337.
- At the time of the acquisition, the Company’s total shares outstanding was 1,471,337 shares.
- Nasdaq will file a Form 25 Notification of Delisting with the U.S. Securities and Exchange Commission when all internal procedural periods have run.
Retrieved on:
Tuesday, December 12, 2023
Failure,
Business analyst,
Audit committee,
Acquisition,
Form,
File,
Disclosure,
Panel,
Bank statement,
Notification,
Calendar,
Letter,
Form 10-Q,
Security (finance),
Corporate finance,
Hearing,
Cryptocurrency New York, NY, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, SAGAR”) (the “Company”) received a delisting notification letter (“Notice”) from the Listing Qualifications staff of the Nasdaq Stock Market LLC (“Nasdaq”) on December 5, 2023.
Key Points:
- New York, NY, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, SAGAR”) (the “Company”) received a delisting notification letter (“Notice”) from the Listing Qualifications staff of the Nasdaq Stock Market LLC (“Nasdaq”) on December 5, 2023.
- The Company intends to file an appeal, and take all possible steps to maintain its Nasdaq listing.
- Accordingly, its securities will be delisted from The Nasdaq Global Market.
- At the time of the acquisition, the Company’s total shares outstanding was 1,471,337 shares.
Retrieved on:
Monday, December 11, 2023
Failure,
Business analyst,
Audit committee,
Acquisition,
Form,
File,
Disclosure,
Panel,
Bank statement,
Notification,
Calendar,
Letter,
Form 10-Q,
Security (finance),
Corporate finance,
Hearing,
Cryptocurrency New York, NY, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, SAGAR”) (the “Company”) received a delisting notification letter (“Notice”) from the Listing Qualifications staff of the Nasdaq Stock Market LLC (“Nasdaq”) on December 8, 2023.
Key Points:
- New York, NY, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, SAGAR”) (the “Company”) received a delisting notification letter (“Notice”) from the Listing Qualifications staff of the Nasdaq Stock Market LLC (“Nasdaq”) on December 8, 2023.
- The Company intends to file an appeal, and take all possible steps to maintain its Nasdaq listing.
- Accordingly, its securities will be delisted from The Nasdaq Global Market.
- At the time of the acquisition, the Company’s total shares outstanding was 1,471,337 shares.
Retrieved on:
Monday, November 20, 2023
AEC,
State,
Superior court,
Business,
Letter,
Acquisition,
Hearing,
Common stock,
Motion,
United States district court,
District court,
GLD New York, NY, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, “SAGAR”) (“we”, “us”, “our”, or the “Company”) announced today that it received a Temporary Restraining Order on its extension proxy shareholder meeting.
Key Points:
- New York, NY, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, “SAGAR”) (“we”, “us”, “our”, or the “Company”) announced today that it received a Temporary Restraining Order on its extension proxy shareholder meeting.
- On November 20, 2023, the US District Court for the District of Delaware issued a Temporary Restraining Order pursuant to Rule 65(b) of the Federal Rules of Civil Procedure.
- Sagaliam is restrained and enjoined from convening a shareholders meeting on Nov 21, 2023 or any date thereafter to conduct a shareholder vote on a proposal to extend the Deadline Date, until a preliminary injunction is adjudicated in favor of Sagaliam.
- In GLD Partners LP and Sponsor Member LLC vs Sagaliam Acquisition Corp, Case No.
Retrieved on:
Friday, September 15, 2023
Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “SEC”).
Key Points:
- Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “SEC”).
- The Notice states that the Company has until September 25, 2023 to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rules.
- If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.
- The Company has executed a binding business combination agreement for the purchase of Biogenysis, Inc. ("BGEN") and Virogentics Inc. ("VIRO"), operating subsidiaries of Enzolytics Inc. (OTC PK: ENZC).
New York, NY, Aug. 08, 2023 (GLOBE NEWSWIRE) -- 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 August 23, 2023.
Key Points:
- New York, NY, Aug. 08, 2023 (GLOBE NEWSWIRE) -- 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 August 23, 2023.
- The date by which the Company has to complete its business combination has been extended by the Company from July 23, 2023 to August 23, 2023 (the “Extension”) by depositing $57,380.22 into the trust account for its public stockholders.
- The Extension is the seventh of ten one-month extensions permitted under the Company’s governing documents and provides the Company with additional time to complete its business combination.
Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “SEC”).
Key Points:
- Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “SEC”).
- The Notice states that the Company has 60 calendar days to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rules.
- If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.
- Additionally, we are pleased to announce that Ronnie Richardson, Krystine Miller, and Travis Richardson are joining our Board of Directors.
New York, NY, June 29, 2023 (GLOBE NEWSWIRE) -- 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 July 23, 2023.
Key Points:
- New York, NY, June 29, 2023 (GLOBE NEWSWIRE) -- 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 July 23, 2023.
- The date by which the Company has to complete its business combination has been extended by the Company from June 23, 2023 to July 23, 2023 (the “Extension”) by depositing $57,380.22 into the trust account for its public stockholders.
- The Extension is the seventh of ten one-month extensions permitted under the Company’s governing documents and provides the Company with additional time to complete its business combination.
- Completion of Sale of Membership Interests in Sagaliam Sponsor, LLC
On June 26, 2023, GLD Sponsor Member, LLC (“GLD Sponsor”) completed the sale of its membership interests in Sagaliam Sponsor, LLC (“Sponsor”) to BN Holdings Trust (“BN Holdings”).
New York, NY, June 02, 2023 (GLOBE NEWSWIRE) -- Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, “SAGAR”) (“we”, “us”, “our”, or the “Company”) announced today that it received notice from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) on June 1, 2023 indicating that the Company has regained compliance with Nasdaq Listing Rules 5250(c)(1).
Key Points:
- New York, NY, June 02, 2023 (GLOBE NEWSWIRE) -- Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, “SAGAR”) (“we”, “us”, “our”, or the “Company”) announced today that it received notice from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) on June 1, 2023 indicating that the Company has regained compliance with Nasdaq Listing Rules 5250(c)(1).
- On April 19, 2023 (the “April 19 Letter”), Nasdaq notified Sagaliam Acquisition Corp. (the “Company”) that the Company no longer met the periodic filing requirement for The Nasdaq Stock Market under Listing Rule 5250(c)(1) (the “Rule”).
- On May 22, 2023, the Company filed its Form 10-K for the period ended December 31, 2022.
- On June 1, 2022, Nasdaq notified the Company that based on the May 22, 2023 filing of the Company’s Form 10-K for the period ended December 31, 2022, Nasdaq has determined that the Company complies with the Rule.
The date by which the Company has to complete its business combination has been extended by the Company from May 23, 2023 to June 23, 2023 (the “Extension”) by depositing $57,380.22 into the trust account for its public stockholders.
Key Points:
- The date by which the Company has to complete its business combination has been extended by the Company from May 23, 2023 to June 23, 2023 (the “Extension”) by depositing $57,380.22 into the trust account for its public stockholders.
- The Extension is the sixth of ten one-month extensions permitted under the Company’s governing documents and provides the Company with additional time to complete its business combination.
- In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company will have 180 calendar days, or until November 22, 2023 (the “Compliance Date”), to regain compliance with the MVLS Rule.
- If the Company regains compliance with the MVLS Rule, Nasdaq will provide the Company with written confirmation and will close the matter.
