Sagaliam Acquisition Corp (SAGAU) Regains Nasdaq Compliance
Sagaliam Acquisition Corp. (“SAGAU”, “SAGA”, “SAGAR”) 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. Accordingly, Nasdaq informed the Company that it considered the matter to be closed and no further action required by the Company in connection with the April 19 Letter.
