Gld Sponsor Member, Llc - Apr 25, 2023 Form 3 Insider Report for Sagaliam Acquisition Corp (SAGA)

Role
10%+ Owner
Signature
/s/ Daniel Gordon
Stock symbol
SAGA
Transactions as of
Apr 25, 2023
Transactions value $
$0
Form type
3
Date filed
5/11/2023, 01:10 PM

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 Apr 25, 2023 Class A Common Stock 1.36M Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As described in the Issuer'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 Issuer's initial business combination on a one-for-one basis subject to certain adjustments.
F2 These shares represent Class B common stock previously acquired by Sagaliam Sponsor, LLC (the "Sponsor") acquired pursuant to a purchase agreement by and between the Sponsor and the Issuer. GLD Sponsor Member, LLC ("GLDSM") is the sole member of Sponsor. Sponsor transferred these shares to GLDSM pursuant to a Share Distribution Agreement dated as of April 25, 2023.
F3 The managing member of GLD Sponsor Member, LLC is Daniel L. Gordon, and as such, Mr. Gordon may be deemed to beneficially own shares held directly by GLD Sponsor Member, LLC.