SAGALIAM ACQUISITION CORP. CONFIRMS FUNDING AND EXTENSION OF DEADLINE TO COMPLETE BUSINESS COMBINATION

New York, NY, Feb. 24, 2023 (GLOBE NEWSWIRE) — Sagaliam Acquisition Corp. (NASDAQ: “SAGAU”, “SAGA”, “SAGAR”) (“we”, “us”, “our”, or the “Company”) announced today that it was exercising its option to extend the time available to consummate its business combination to March 23, 2023 and on February 23, 2023, our sponsor, Sagaliam Sponsor LLC, has deposited an aggregate of $57,380.22 into Company’s trust account for its public stockholders. This deposit enables the Company to extend the date by which the Company has to complete its business combination from February 23, 2023 to March 23, 2023 (the “Extension”). The Extension is the third of ten one-month extensions permitted under the Company’s governing documents.

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