secwatch.observer — SEC 8-K summary
======================================

Issuer:     Sagaliam Acquisition Corp (—)
CIK:        0001855351
Form:       8-K
Filed at:   2023-09-15T23:59:59+00:00
Accession:  0001493152-23-032803
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sagaliam Acquisition Corp. signs business combination agreement with Enzolytics; receives Nasdaq delisting notice
--------------------------------------------------------------------------------

- Entered into definitive Business Combination Agreement to acquire Virogentics Inc. and Biogenysis Inc., operating subsidiaries of Enzolytics Inc. (OTC PK: ENZC).
- Combined company expected to trade on Nasdaq; no deal value disclosed in the filing.
- Received Nasdaq delinquency notice for failing to timely file Q1 2023 Form 10-Q and Q2 2023 Form 10-Q.
- Must submit compliance plan by Sept 25, 2023; if accepted, has until Nov 20, 2023 to regain compliance.
- Company cites need for additional time to finalize financial statements; auditors have not completed review.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1855351/000149315223032803/0001493152-23-032803-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1855351/000149315223032803/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-032803

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer