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Sagaliam Acquisition Corp. - $SAGA STOCK NEWS

Welcome to our dedicated page for Sagaliam Acquisition news (Ticker: $SAGA), a resource for investors and traders seeking the latest updates and insights on Sagaliam Acquisition stock.

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Sagaliam Acquisition Corp (SAGA) announced the launch of a new IPF formula, IPF Immune+ with Vit C, developed by Virogentics, Inc., a subsidiary of SAGA, and a Bulgarian product development team. The product combines Vitamin C with an existing patented compound and will be available in pill and lozenge form. Additionally, a new slimming formula will be added to the VIRO nutraceutical product line. CEO Barry Kostiner expressed enthusiasm for the consumer approval of the IPF nutraceutical and highlighted future collaborations with Enzolytics for expanding the company's wellness product portfolio. SAGA's partnership with Dr. Lachezar Ivanov is expected to result in the development of brain detox and liver detox nutraceuticals in the American market, along with the latest IPF immune formulation with Vitamin C.

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Sagaliam Acquisition Corp. announced a Novation Agreement with Enzolytics, Inc., restructuring ownership agreements with Biogenysis, Inc. and Virogentics, Inc. SAGA retains 100% ownership of VIRO and other assets, while transferring BGEN back to ENZC for a reduced price of $290,000,000. The agreement aims to expedite regulatory approval for the dividend of 29 million SAGA shares issued for the VIRO purchase.
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Sagaliam Acquisition Corp. (NASDAQ: SAGA) received a Nasdaq Hearing Withdrawal letter due to non-compliance with listing requirements. The company failed to maintain the minimum market value of $50,000,000 for 30 consecutive trading days. Delinquent filings, undisclosed share issuances, and lack of shareholder approval led to multiple violations of Nasdaq rules, resulting in a delisting notice.
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Sagaliam Acquisition Corp. (NASDAQ: 'SAGAU', 'SAGA', 'SAGAR') received a delisting notification letter from Nasdaq due to failure to regain compliance with the minimum market value of listed securities. The Company also violated several Nasdaq Listing Rules regarding shareholder approval, timely filings, and maintaining minimum total holders. The delisting may occur on December 14, 2023, unless the Company appeals and requests a hearing.
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Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, SAGAR”) received a delisting notification letter from Nasdaq due to non-compliance with listing rules. The company intends to file an appeal and take steps to maintain its Nasdaq listing. The letter highlighted several violations, including failure to seek shareholder approval for an acquisition, non-compliance with minimum market value requirements, and failure to timely file periodic reports.
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Sagaliam Acquisition Corp. (SAGAU) received a Temporary Restraining Order on its extension proxy shareholder meeting. The US District Court for the District of Delaware issued the order, restraining the company from convening a shareholders meeting to conduct a vote on a proposal to extend the Deadline Date. The hearing for a Preliminary Injunction is set for Dec 11, 2023. GLD Partners LP and Sponsor Member LLC filed claims asserting that the transaction with VIRO and BGEN disenfranchises GLD of its voting rights. The company also faces claims from Supraeon Investments Inc. regarding a $1,000,000 termination fee owed in connection with a previously proposed acquisition.
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Enzolytics, Inc. (ENZC) provides updates on the SAGA transaction, Virogenetics, Inc., and Biogenysis, Inc. progress. The company filed amended OTC Annual Report and quarterly disclosure, completed the sale of VIRO and BGEN to SAGA, and received 45 million SAGA shares. The African clinical trial for ITV-1 is being conducted in Ethiopia, with additional trials in Asia and India. VIRO's nutraceutical product line expansion and Biogenysis, Inc.'s progress in its PCT application for anti-SARS-CoV-2 Monoclonal Antibodies are also highlighted.
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Sagaliam Acquisition Corp. (NASDAQ: SAGAU, SAGA, SAGAR) received a delinquency notification letter from Nasdaq due to non-compliance with filing its Quarterly Report on Form 10-Q. Company has until Sept. 25 to submit a plan to regain compliance. If accepted, they may have until Nov. 20. Company continuing efforts to file the Form 10-Q. Executed binding business combination agreement for purchase of BGEN and VIRO, expected to trade on NASDAQ.
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Enzolytics, Inc. subsidiary Virogentics has received an export permit for the delivery of treatments to HIV/AIDS patients in Africa. The results of this pilot clinical trial will be used for European Medicine Authority clinical trials. Sagaliam Acquisition Corp. has extended the time to consummate a business combination agreement with VIRO. The CEO of Sagaliam praises VIRO's progress and their potential to help people globally. VIRO is moving closer to administering their immunotherapy and listing on NASDAQ.
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Sagaliam Acquisition Corp. has announced that it is extending the time available to consummate its business combination to August 23, 2023. The extension provides the company with additional time to complete its business combination.
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Sagaliam Acquisition Corp.

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