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    SEC Form SC 13G/A filed by Sagaliam Acquisition Corp. (Amendment)

    2/14/23 1:45:21 PM ET
    $SAGA
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    SC 13G/A 1 mangrove-sagau123122a2.htm



     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION
    Washington, DC 20549

     

    SCHEDULE 13G/A

     

    Under the Securities Exchange Act of 1934

    (Amendment No. 2)*



    Sagaliam Acquisition Corp.

    (Name of Issuer)

     

    Units, each consisting of one share of Class A common stock, $0.0001 par value, and one Right

    (Title of Class of Securities)

     

    78661R205

    (CUSIP Number)

     

     

    December 31, 2022
    (Date of Event Which Requires Filing of this Statement)

     

    Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     

    o Rule 13d-1(b)

    x Rule 13d-1(c)

    o Rule 13d-1(d)

     

     

    *The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

     

    The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     


     

    CUSIP No.  78661R205
     SCHEDULE 13G/A
    Page 2 of 9 Pages

     

             
    1
    NAME OF REPORTING PERSONS
     
    Mangrove Partners Master Fund, Ltd.
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    (a) x
    (b) o
     
    3
    SEC USE ONLY
     
     
    4
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
    Cayman Islands
    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON
    WITH
    5
    SOLE VOTING POWER
     
    0
    6
    SHARED VOTING POWER
     
    0
    7
    SOLE DISPOSITIVE POWER
     
    0
    8
    SHARED DISPOSITIVE POWER
     
    0
    9
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
    0
    10
    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
     
     
    o
    11
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
    0.0%
    12
    TYPE OF REPORTING PERSON
     
    OO

     


     

    CUSIP No.  78661R205
     SCHEDULE 13G/A
    Page 3 of 9 Pages

     

             
    1
    NAME OF REPORTING PERSONS
     
    Mangrove Partners
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    (a) x
    (b) o
     
    3
    SEC USE ONLY
     
     
    4
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
    Cayman Islands
    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON
    WITH
    5
    SOLE VOTING POWER
     
    0
    6
    SHARED VOTING POWER
     
    0
    7
    SOLE DISPOSITIVE POWER
     
    0
    8
    SHARED DISPOSITIVE POWER
     
    0
    9
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
    0
    10
    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
     
     
    o
    11
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
    0.0%
    12
    TYPE OF REPORTING PERSON
     
    OO

     


     

    CUSIP No.  78661R205
     SCHEDULE 13G/A
    Page 4 of 9 Pages

     

             
    1
    NAME OF REPORTING PERSONS
     
    Nathaniel August
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    (a) x
    (b) o
     
    3
    SEC USE ONLY
     
     
    4
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
    United States
    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON
    WITH
    5
    SOLE VOTING POWER
     
    0
    6
    SHARED VOTING POWER
     
    0
    7
    SOLE DISPOSITIVE POWER
     
    0
    8
    SHARED DISPOSITIVE POWER
     
    0
    9
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
    0
    10
    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
     
     
    o
    11
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
    0.0%
    12
    TYPE OF REPORTING PERSON
     
    IN, HC
     


     

     

    CUSIP No. 78661R205
     SCHEDULE 13G/A
    Page 5 of 9 Pages

     

    Item 1.(a) Name of Issuer

    Sagaliam Acquisition Corp.

    Item 1.(b) Address of Issuer’s Principal Executive Offices

    1800 Avenue of the Stars

    Suite 1475

    Los Angeles, CA 90067

    Item 2.(a, b, c) Names of Person Filing, Address of Principal Business Office, Citizenship:

    Mangrove Partners, a Cayman Islands limited liability company, is located at c/o Maples Corporate Services, Ltd., PO Box 309, Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands KY1-1104

    Mangrove Partners Master Fund, Ltd., a Cayman Islands limited liability company, is located at c/o Maples Corporate Services, Ltd., PO Box 309, Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands KY1-1104

    Nathaniel August, a United States citizen, is located at 645 Madison Avenue, 14th Floor, New York, New York 10022

    The shares of units of the Issuer which are the subject of this SCHEDULE 13G/A (the “Shares”) are held by the Master Fund. Beneficial ownership of the Shares is also claimed by (i) Mangrove Partners which serves as the investment manager of the Master Fund, and (ii) Nathaniel August who is the principal of Mangrove Partners.  

     

    Item 2.(d) Title of Class of Securities

    Units, each consisting of one share of Class A common stock, $0.0001 par value, and one Right (the “Units”)

     

    Item 2.(e) CUSIP No.:

    78661R205

     

    CUSIP No.  78661R205
     SCHEDULE 13G/A
    Page 6 of 9 Pages

     

     

    Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

      (a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
     
      (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
     
      (c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
     
      (d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
     
      (e) o An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
     
      (f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
     
      (g) ¨ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
     
      (h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
     
      (i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
     
      (j) ¨ A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J);
     
      (k) ¨

    A group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:                             

          Not Applicable

     

    CUSIP No. 78661R205
     SCHEDULE 13G/A
    Page 7 of 9 Pages

     

     

    Item 4. Ownership

    Information with respect to the Reporting Persons' ownership of the Units as of December 31, 2022, is incorporated by reference to items (5) - (9) and (11) of the cover page of the respective Reporting Person.

    The entire position of units held were converted, such that no units would remain following the conversion.

    The filing of this SCHEDULE 13G/A shall not be construed as an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any of the Shares reported herein. Each of the Reporting Persons specifically disclaims beneficial ownership of the Shares reported herein that are not directly owned by such Reporting Person.

    Item 5. Ownership of Five Percent or Less of a Class

    If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X].

    Item 6. Ownership of More Than Five Percent on Behalf of Another Person

    Not Applicable.

    Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person

    Not Applicable.

    Item 8. Identification and Classification of Members of the Group

    See disclosures in Item 2 and Exhibit I.

    Item 9. Notice of Dissolution of Group 

    Not Applicable.

    Item 10. Certification

    By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

     

     
    CUSIP No. 78661R205
     SCHEDULE 13G/A
    Page 8 of 9 Pages

     

     

    SIGNATURE

     

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

     

    Dated: February 14, 2023

     

     

     

     

    Mangrove Partners

           
      By:  /s/ Nathaniel August
        Nathaniel August, Director
           
     

    Mangrove Partners Master Fund, Ltd

           
      By:  /s/ Nathaniel August
        Nathaniel August, Director
           
     

    Nathaniel August

           
      By:  /s/ Nathaniel August
        Nathaniel August
           

     

     
    CUSIP No. 78661R205
     SCHEDULE 13G/A
    Page 9 of 9 Pages

     

    Exhibit I

     

    JOINT FILING STATEMENT

     

    PURSUANT TO RULE 13d-1(k)

     

    The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G/A, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G/A, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

     

    Dated: February 14, 2023

     

     

    Mangrove Partners

           
      By:  /s/ Nathaniel August
        Nathaniel August, Director
           
     

    Mangrove Partners Master Fund, Ltd

           
      By:  /s/ Nathaniel August
        Nathaniel August, Director
           
     

    Nathaniel August

           
      By:  /s/ Nathaniel August
        Nathaniel August
           
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