Sagaliam Acquisition Corp - Ordinary Shares - Class A

NASDAQ:SAGA   11:02:40 AM EDT
10.11
0.00 (0.00%)
Mergers / Acquisitions

Arabian Entertainment Company Enters Into Business Combination Agreement With Sagaliam Acquisition Corp, Combined Company Is Expected To Trade On Nasdaq

Published: 11/16/2022 22:59 GMT
Sagaliam Acquisition Corp - Ordinary Shares - Class A (SAGA) - Arabian Entertainment Company, Ltd.
, a Leading Food, Beverage and Entertainment Company in Saudi Arabia, Enters Into Business Combination Agreement With Sagaliam Acquisition Corp.
Combined Company is Expected to Trade on Nasdaq.
Sagaliam Acquisition Corp- Transaction to Provide Aec Up to $151.5 Million in Proceeds Including Anticipated $35 Million of Immediate Funding Through a Pipe.
Sagaliam Acquisition Corp- Transaction to Provide Aec Up to $116.5 Million of Spac Cash Held in Trust, Based on a Pre-transaction Equity Value of $379 Million.
Sagaliam Acquisition Corp - Upon Closing of Proposed Transaction, Aec's Senior Management Will Continue to Serve in Their Current Roles.
Sagaliam Acquisition Corp - Current Aec Owners Will Retain Approximately 50% of Ownership at Close, Assuming No Spac Shareholder Redemptions.
Sagaliam Acquisition Corp- Supraeon Investments, Parent Company of Aec and Sagaliam to Combine Into New Company That is Expected to Be Listed on Nasdaq.