Sagaliam Acquisition Corp. (SAGAU) Prices $100M IPO


Sagaliam Acquisition Corp. (SAGAU) Prices $100M IPO

Dec 20, 2021 IPOs by Marlena Haddad

Sagaliam Acquisition Corp. announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SAGAU” Tuesday, December 21.

The new SPAC intends to capitalize on the capabilities of its management team and sponsor to identify, acquire and operate a business that may provide opportunities for attractive risk-adjusted returns in the telecommunications, media, and technology industries. Sagaliam is led by Chairman and CEO Barry Kostiner, CFO Thomas W. Neukranz, and VP of Business Development Jane Liu.

Total SPAC deal count for 2021 year-to-date is now 608. This offering is expected to close on Thursday, December 23.

EF Hutton, division of Benchmark Investments, LLC, is acting as sole book-running manager for the offering. Mayer Brown LLP is serving as Issuer’s Counsel with Loeb & Loeb LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.