Enzolytics Inc (ENZC)

[falon]

It is quite plausible that ENZC gets a percentage of the new company as they will be running it.

Also SAGA isn't sitting on $250 million.

List of Companies That Went Public By Merging With A Special Purpose Acquisition Company ('SPAC')
https://stockmarketmba.com/listofcompaniesthathavemergedwithaspac.php

I look at a lot of companies that went the SPAC route and found mixed results.

Most SPAC trade around $10 and soon after the deal closes a lot of them drop significantly. Some recovered some didn't.

MoonLake Immunotherapeutics (MLTX) completed SPAC on 4/5/2022 and closed at $13.25.

Closed on 5/5/2022 at $5.73

Closed on 11/5/2002 at $8.49

Closed on 4/21/2023 at $21.67

EQRx, Inc. (EQRX) completed SPAC on 12/17/2021and closed at $8.29

Closed on 1/18/2022 at $6.28

Closed on 7/18/2022 at $5.00

Closed on 12/16/2022 at $2.18

Closed on 4/21/2023 at $1.85


The bottom line is the SPAC gets you to a higher exchange or to become a public trading company however companies must perform, must produce, must provide results.

ENZC was already performing, producing and is on the verge of providing significant results with the deployment of ITV-1 therapeutic to Africa.

There are many unanswered questions as to how and what will be distributed.

Enzolytics, Inc. (the "Company" or "ENZC"), a drug development biotech company, and Sagaliam Acquisition Corp. (NASDAQ: SAGA) ("Sagaliam"), a special purpose acquisition company ("SPAC"), announced today, April 17, 2023, they have executed a non-binding term sheet for the sale of Biogenysis, Inc. ("BGEN") and Virogentics, Inc. ("VIRO"), operating subsidiaries of Enzolytics. The value of the transaction is $250,000,000 The definitive agreement is being finalized with an expected closing date of May 19, 2023.

So $250,000,000 is the value of the transaction.

Sagaliam Acquisition Corp Market capitalization is $157.53 million so they are around $100 million short of the $250 million.

A lot of the deals I look at were broken out by different entities getting certain percentages of the newly formed company.

It is plausible we get a percentage to cover the $100 million.