Sagaliam Acquisition Corp (SAGA)

[Valuator2]

Under the FWIW category...re the deficiency notice...the possible reason for the delay in filing their quarterly report is on the auditor side. Their auditor since inception has been Marcum (per SAGA's 2022 10K), but Marcum has recently been under SEC and PCAOB scrutiny for internal quality control of assurance work. About 6 weeks ago they were required to make some internal changes and fined. So, they may be behind in providing services to their clients and they've got a lot of them.
https://www.sec.gov/news/press-release/2023-114

According to the SEC’s order, over a three-year period, Marcum more than tripled its number of public company clients, the majority of which were SPACs, including auditing more than 400 SPAC initial public offerings in 2020 and 2021.