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With August 23rd passed, we can expect extension #9 to be used by SAGA. leaving only 1 more extension (the 10th and final extension) to be used on September 23,2023., with a must be signed closing date of October 23, 2023.
Am I interpreting this right?
In addition, as far as ITV-1 (Therapeutic not a cure) in Africa, has it started yet? I think not.
With that said, the earliest we can expect results, and that is if ENZC starts the JAB by Monday August 25,2023, is the last week of 2023/or early 2024.
Am I interpreting this right?
P.s. I'm not bashing, I'm just looking for some clarity.
Thank you.
Surely todays PR is worth more than 1 up tick, I would have expected at least a 1 cent move up. what am I missing?
lol, what drama? my post was meant to be encouraging and martyr like, meaning I believe in ENZC. I'm sorry you don't get my dry sense of humor.
ENZC till my dying day...
I'll go down with this ship,
I won't hang my white flag to surrender,
I'll hold on to my 1,354,000M shares and remember,
I will live and I'll be free...
And should it come, Oh one day it will...
I'll remember that I'm still free as I should be...
Enzolytics now, Enzolytics for eternity.
It is my understanding that a SPAC has two years to complete its merger deal from the time the SPAC is formed. The first year of this SPAC was used on another company and fell apart, the second year of this SAGA SPAC started at the end in 2022, with that said there is a timeline for completion. In addition to the 2 years of a SPAC, there is the opportunity to execute up to 10 (1 month) extensions, of which SAGA has already utilized 8 of 10 (1 month) extensions with the 9th to be used on August 23, 2023. TIC-TOK the clock is running out of time.
That makes no sense, if trials where to start tomorrow (8/21/23) the results wouldn't be ready for 17 weeks the earliest. That would bring us to the last week of December 2023 or early January 2024. The SAGA deal must be signed, sealed and delivered/finalized no later than October 23, 2023.
All good now, I just wanted everyone on the same page, that SAGA has used their 8th out of 10 extensions & the deal must be signed by Oct. 23,2023.
Then why am I reading that this is the 7th?
you need to scroll down to the link in the 8k you posted and open it. link 99.1 Company press Release dated June 29,2023. I copied and pasted below.
Exhibit No. Description of Exhibits
99.1 Company Press Release dated June 29, 2023
Exhibit 99.1
SAGALIAM ACQUISITION CORP. CONFIRMS FUNDING AND EXTENSION OF DEADLINE TO COMPLETE BUSINESS COMBINATION
New York, NY June 29, 2023 – 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.
Business Combination Extension
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”). In connection with the completion of the sale of GLD Sponsor’s membership interests in Sponsor, George Caruolo, Gabriel Del Virginia and Glauco Lolli-Ghetti resigned from the Company’s Board of Directors. None of Messrs. Caruolo, Del Virginia or Lolli-Ghetti advised the Company of any disagreement with the Company on any matter relating to its operations, policies or practices.
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.
Non-Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities shall not constitute an offer to sell or a solicitation of an offer to buy the securities of the Company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
CONTACT INFORMATION
Sagaliam Acquisition Corp.,
Barry Kostiner, Chief Executive Officer
1800 Avenue of the Stars, Suite 1475
Los Angeles, CA 90067
Tel: (213) 616-0011
bkostiner@fintecham.com
I used your link and came to the same conclusion as I stated, the 6/29/23 8k states that it is the 7th of 10 extensions. In addition, the 8/08/23 8k states that it's the 7th of 10 extensions, leading me to believe that there is an error with the 8/08/23 8k.
SAGALIAM ACQUISITION CORP. CONFIRMS FUNDING AND EXTENSION OF DEADLINE TO COMPLETE BUSINESS COMBINATION
New York, NY June 29, 2023 – 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.
Business Combination Extension
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.
Yes, however the 8k dated 6/29/23 states the same thing and there is more than a month between... So, the most recent 8k should state the 8th extension of 10.
Question?
OTC Markets where the 8K's are shown are showing the 7th extension on two of the 8k's one of which is 6/29/23 and the other is 8/08/23.
How can they both be the 7th of 10 extensions?
Anyone have any insight?
TIA
With that said must this deal close by 10/23/23 or 11/23/23?
I personally wouldn't make a comment like that unless I knew it was a fact... Know one knows what's going on behind the scenes (as you posted) period.
Soooon... we'll be @ 0.0009.
However, I'm one of the naive hopefuls.
Not too far off subject...
Movie, (Contagion) released in 2011...
was/is Hollywood writing history?
All-star cast, watching it on AMC 8/14-15/2023.
I wrote the date this way because it ran past midnight.
P.S. a very good movie to put thing into perspective.
I thought by know, that everyone would understand that the .95 that ENZC reached in Feb. 2021 wasn't real and that it was part of the AMC/GameStop pump & dump in which the whole market went crazy and up.
At this moment I'd just be happy braking even @ 0.23368.
I'm hopeful $ being realistic.
Woke up this morning with a management fee of $38.00 from E*Trade & left with only 223 shares of MULN after the seconded R/S in 4 months.
I consider myself lucky, I wasn't heavily invested here. I started with only 20,000 shares, 1st R/S reduced me down to 800 shares and I did an avg down last month bringing me up to 2000 shares only to get reduced back down to 223 shares @ avg $31.82695. now I'll wait till MULN gets knocked down to OTC and average down @ 0.0005.
GLTA
It was only 2 shares, with the hopes of getting notifications quicker.
To be determined, ITV-1 first needs to be packaged, shipped to Africa, clear customs and finally take the rugged back roads to the hospital where the therapeutic will be administered... and keep in mind that is if no surprises pop up along the way, don't forget the company had problems with customs when shipping IPF to the USA, which delayed thing for months.
Relax BM, I only brought 2 shares of SAGA, mainly so I will get notifications quicker.
Thanks for your concern.
Thanks Dyno89,
I'm more worried about the people that think that they can buy shares of ENZC up until payment date which has not been disclosed yet.
I own quite a bit of companies that pay quarterly dividends & it has been my experience that when company X announces a dividend, the public then has xx amount of days to purchase any extra shares that they want in company X, Then the payout is normally 3 weeks to a month later... with that said there is a window of time that shareholders are going to be locked into holding all share of ENZC or miss out on any dividends that will be lost by selling too early or not buying in time.
you are right . I just checked it was May 12th that I made my buy. my bad... Still pisses me off, Just say 'in
LoL! not really, I only brought 2 shares. LoL
Because every time I buy ENZC it goes down on me, Last month I got suckered into the $0.11's and it pissed me off. 54,000 shares @ 0.11 last month. at the end of the day, it did bring my overall average down though.
Today I took a change with the way I'm going to invest, as of today I still hold 1,354,000 shares of ENZC @ $0.2336. Yes, bag holder I am, however today I decided to start buying into SAGA & will only buy SAGA until this deal is signed sealed and delivered.
Today I took a change with the way I'm going to invest here, as of today I still hold 1,354,000 shares of ENZC @ $0.2336. Yes, bag holder I am, however today I decided to buy into SAGA & will only buy SAGA until this deal is signed sealed and delivered.
Correction DRHUMI, ENZC said the end of July/early August...
Point taken, however why put out a PR stating that EMA trials will start late 2023/early 2024 if they haven't even started ITV-1 trials in Africa yet. ITV-1 trials from Africa are needed in order to start with the EMA trials... It sounds like the company is counting their chickens before their eggs hatch and this seems to happen too frequently.
Thanks for the Clairity, and yes as you posted to someone else... frustration is kicking in, for me anyway...
Point taken & I concur with your statement. However why doesn't the company put out a PR that the ITV-1 jabs have started in Africa? As in the past the company puts out a date and it will be 6-12 months behind what was stated... using IPF as an example.
The way I've interpreted it is that they are one and the same, Maybe I'm reading too much into it.
So now the start time for Africa has changed from late July/early August to late 2023/early 2024.
Why does this company keep putting out timelines they can't meet?
https://www.accesswire.com/772958/Virogentics-Inc-Receives-Permit-for-Export-to-Africa-of-the-ITV-1-Immunotherapy-Solidifying-the-Scheduled-Administration-of-the-Treatment
Bullish
BULLISH
I get that the last PR states that SAGA will pay the management fees for ENZC for 30 months/ 2.5 years, however, why wasn't the 8th extension filed on the 23rd of July?
Correct me if I'm wrong, doesn't ENZC get $1,000,000 if the SAGA deal falls apart and if so, don't you think the 30 months / 2.5 years pay equals $1,000,000?
I'm not stating fact, just thinking out loud...
LoL! That's what they said with the last R/S.
Question? How do we know if the SAGA deal is still in play, since they (SAGA) still haven't filed for an extension and pay the fees involved for extending? or did I miss something and everything is up to date? TIA...
No, My E*Trade transfers have gone through instantly, I did a transfer today without any problems. However, I didn't transfer into my E*Trade saving account, I transferred directly into the account that I wanted to do a transaction with in. I hope that helps.
Well BM, I just don't know what to tell you... I just went back to the link on I-Hub and the audio worked just fine for me. Note the link did take me to X a.k.a Twitter.
BM, audio works just fine... you just needed to be patient and wait for it to get to the 0.29 second mark.
Before you start the clock on the 17-week countdown... I would wait till ENZC came out with a PR stating that the first jabs have been administered in Africa. Just Sayin.
Well, if trials haven't started with Clone 3... ENZC/ & We are looking at a Minium of 6 to 10 plus years for approval and that's if trials were to start today. Something to think about...