Alan H. Ginsburg - 20 Dec 2021 Form 3 Insider Report for Sagaliam Acquisition Corp

Role
10%+ Owner
Signature
/s/ Alan H Ginsburg
Issuer symbol
N/A
Transactions as of
20 Dec 2021
Net transactions value
$0
Form type
3
Filing time
21 Dec 2021, 11:34:09 UTC
Next filing
18 Jan 2022
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding SAGA Class B Common Stock 20 Dec 2021 Class A Common Stock 2,650,000 See Footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares represent Class B common stock held by Sagaliam Sponsor LLC (the "Sponsor") acquired pursuant to a subscription agreement by and between the Sponsor and the issuer. The Class B common stock owned by the Sponsor includes up to 375,000 shares that are subject to forfeiture in the event the underwriters of the issuer's initial public offering do not exercise in full their over-allotment option as described in the issuer's registration statement.
F2 The sole member of the Sponsor is GLD Sponsor Member, LLC. The managing member of GLD Sponsor Member, LLC is Alan H. Ginsburg. As such, Mr. Ginsburg may be deemed to have beneficial ownership of the shares held directly by the Sponsor.
F3 As described in the registrant's registration statement on Form S-1 (File No. 333- 256473) under the heading "Description of Securities--Founder Shares and Private Placement Shares", the shares of Class B common stock will automatically convert into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis subject to certain adjustments.