GLD SPONSOR MEMBER, LLC 3
3 · Sagaliam Acquisition Corp · Filed May 11, 2023
Insider Transaction Report
Form 3
GLD SPONSOR MEMBER, LLC
10% Owner
Holdings
Class B Common Stock
→ Class A Common Stock (1,363,000 underlying)
Footnotes (3)
- [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.