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Thursday, March 07, 2024 11:05:06 AM
Following is the core text of the letter received from Nasdaq on March 6, 2024:
This is to confirm Sagaliam Acquisition Corp.’s (the “Company”) withdrawal of its December 12, 2023, request for an appeal of the Nasdaq Listings Qualification staff’s delist determination dated December 5, 2023, for the Company’s failure to maintain compliance with the Exchange’s listing standards.
As a result of the Company withdrawing its appeal, its securities will be suspended at the open of business on March 8, 2024. Nasdaq will file a Form 25 Notification of Delisting with the U.S. Securities and Exchange Commission when all internal procedural periods have run.
The Company intends to work with OTC Markets to facilitate the continued trading of the Company’s shares on the OTC Markets.
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/1855351/000149315224009161/form8-k.htm
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