Welcome to our dedicated page for Sagaliam Acquisition news (Ticker: SAGAR), a resource for investors and traders seeking the latest updates and insights on Sagaliam Acquisition stock.
Sagaliam Acquisition Corp. is a blank check company focused on effecting a merger, capital stock exchange, asset acquisition, or similar business combination with one or more entities. The company's subsidiary, Virogentics, is developing therapeutics targeting infectious diseases. Notably, ITV-1 is a patented compound covered by U.S. Patent Nos. 8,066,982 and 7,479,538, showing potential in treating HIV/AIDS and modulating the immune system.
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Sagaliam Acquisition Corp. announced a Novation Agreement with Enzolytics, Inc., restructuring ownership agreements with Biogenysis, Inc. and Virogentics, Inc. SAGA retains 100% ownership of VIRO and other assets, while transferring BGEN back to ENZC for a reduced price of $290,000,000. The agreement aims to expedite regulatory approval for the dividend of 29 million SAGA shares issued for the VIRO purchase.
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Sagaliam Acquisition Corp. (NASDAQ: SAGA) received a Nasdaq Hearing Withdrawal letter due to non-compliance with listing requirements. The company failed to maintain the minimum market value of $50,000,000 for 30 consecutive trading days. Delinquent filings, undisclosed share issuances, and lack of shareholder approval led to multiple violations of Nasdaq rules, resulting in a delisting notice.
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Sagaliam Acquisition Corp. (NASDAQ: 'SAGAU', 'SAGA', 'SAGAR') received a delisting notification letter from Nasdaq due to failure to regain compliance with the minimum market value of listed securities. The Company also violated several Nasdaq Listing Rules regarding shareholder approval, timely filings, and maintaining minimum total holders. The delisting may occur on December 14, 2023, unless the Company appeals and requests a hearing.
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Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, SAGAR”) received a delisting notification letter from Nasdaq due to non-compliance with listing rules. The company intends to file an appeal and take steps to maintain its Nasdaq listing. The letter highlighted several violations, including failure to seek shareholder approval for an acquisition, non-compliance with minimum market value requirements, and failure to timely file periodic reports.
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Sagaliam Acquisition Corp. (SAGAU) received a Temporary Restraining Order on its extension proxy shareholder meeting. The US District Court for the District of Delaware issued the order, restraining the company from convening a shareholders meeting to conduct a vote on a proposal to extend the Deadline Date. The hearing for a Preliminary Injunction is set for Dec 11, 2023. GLD Partners LP and Sponsor Member LLC filed claims asserting that the transaction with VIRO and BGEN disenfranchises GLD of its voting rights. The company also faces claims from Supraeon Investments Inc. regarding a $1,000,000 termination fee owed in connection with a previously proposed acquisition.
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Sagaliam Acquisition Corp. (NASDAQ: SAGAU, SAGA, SAGAR) received a delinquency notification letter from Nasdaq due to non-compliance with filing its Quarterly Report on Form 10-Q. Company has until Sept. 25 to submit a plan to regain compliance. If accepted, they may have until Nov. 20. Company continuing efforts to file the Form 10-Q. Executed binding business combination agreement for purchase of BGEN and VIRO, expected to trade on NASDAQ.
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Sagaliam Acquisition Corp. has announced that it is extending the time available to consummate its business combination to August 23, 2023. The extension provides the company with additional time to complete its business combination.
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Sagaliam Acquisition Corp. received a delinquency notification letter from Nasdaq due to non-compliance with filing its Quarterly Report. They have 60 days to submit a plan to regain compliance. The company is working to file the report as soon as possible. Additionally, Ronnie Richardson, Krystine Miller, and Travis Richardson are joining the Board of Directors.
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FAQ
What is Sagaliam Acquisition Corp.?
Sagaliam is a blank check company that aims to merge, acquire, or form business combinations with other entities.
What does Virogentics, a subsidiary of Sagaliam, focus on?
Virogentics is focused on developing therapeutics targeting infectious diseases, with ITV-1 as a notable compound under development.
What is ITV-1?
ITV-1 is a patented compound covered by U.S. Patent Nos. 8,066,982 and 7,479,538. It shows promise in treating HIV/AIDS and modulating the immune system.
Where is Sagaliam Acquisition Corp. based?
Sagaliam Acquisition Corp. is based in Baytown, Texas.
Who is the CEO of Sagaliam Acquisition Corp.?
Barry Kostiner serves as the Chief Executive Officer of Sagaliam Acquisition Corp.
What is the contact information for Sagaliam Acquisition Corp.?
You can reach Sagaliam Acquisition Corp. at 3002 Royal Palm, Baytown, Texas 77523, Tel: (845) 925-4597, Email: bkostiner@fintecham.com
What are the primary goals of Sagaliam Acquisition Corp.?
The primary goal of Sagaliam is to consummate a business combination with an appropriate target and pursue value creation.
What are the key products in development at Virogentics?
Virogentics is advancing therapeutics targeting infectious diseases, with ITV-1 being a notable compound showing potential in HIV/AIDS treatment.
What makes ITV-1 unique?
ITV-1, a suspension of Inactivated Pepsin Fraction (IPF), has shown effectiveness in treating HIV/AIDS and immune system modulation, making it a promising compound.
What is the vision of Sagaliam Acquisition Corp.?
Sagaliam Acquisition Corp. aims to build a valuable pharmaceutical company with global impact and focus on partnership and innovation in the biotech sector.
Sagaliam Acquisition Corp.