SIM Acquisition Corp. I (the “Company”) revealed today the pricing of its inaugural public offering of 20,000,000 units. These units are set to be listed on The Nasdaq Stock Market LLC (“Nasdaq”) and will commence trading on July 10, 2024, under the ticker symbol “SIMAU.” Each unit comprises one Class A ordinary share and one-half of one redeemable warrant. The whole warrant enables the holder to buy one Class A ordinary share at $11.50 per share, subject to specific adjustments. Only whole warrants will be traded as no fractional warrants will be issued upon separation of the units. After the units start trading separately, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “SIMA” and “SIMAW,” respectively. The offering is anticipated to conclude on July 11, 2024, subject to customary closing conditions. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.
The Company functions as a blank check company established to facilitate a merger, share exchange, asset acquisition, or similar business combination with one or more businesses. The Company is open to exploring acquisition opportunities in any business or industry, with a particular emphasis on the healthcare sector.
The Company’s leadership is spearheaded by Erich Spangenberg, Chairman of the Board and Chief Executive Officer, and David Kutcher, Chief Financial Officer and Director. The Board of Directors also comprises Delos (“Toby”) Marshall Cosgrove, M.D., Janine Grasso, and Vincent Capone.
Cantor Fitzgerald & Co. acts as the exclusive book-running manager for the offering.
This offering is conducted through a prospectus, which can be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022, or via email at prospectus@cantor.com.
A registration statement concerning the securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and was declared effective on July 9, 2024. This press release does not constitute an offer to sell or a solicitation of an offer to buy, and the sale of these securities is not permitted in any state or jurisdiction where such an offer, solicitation, or sale would be unlawful without prior registration or qualification under the securities laws of that state or jurisdiction.