SIM Acquisition Corp. I filings document the regulatory record for a Cayman Islands SPAC with Nasdaq-listed ordinary shares, units and redeemable warrants. Its Forms 8-K report material events such as administrative services arrangements, working-capital financing, underwriter-fee arrangements, shareholder-meeting postponements and other governance matters.
The company's proxy materials describe shareholder voting matters tied to the SPAC structure, including extension proposals and meeting mechanics. Its filings also disclose security structure, sponsor-related arrangements, emerging-growth-company status, capital-structure terms for warrants and ordinary shares, and corporate matters related to the pursuit of an initial business combination.
SIM Acquisition Corp. I’s sponsor group has disclosed near-total control of the SPAC’s Class A shares. SIM Sponsor 1 LLC, Conroy Partners LLC and Eric Newman jointly report beneficial ownership of 7,646,669 Class A ordinary shares, representing about 93.2% of the Class A class. This includes 3,000,000 Class A shares the sponsor converted from Class B on May 11, 2026 and 4,646,669 Class A shares the group can receive by converting remaining Class B shares on a one-for-one basis. The sponsor also holds 4,000,000 private placement warrants to buy additional Class A shares, which are excluded from the reported ownership because they are not yet exercisable. Existing agreements give the sponsor registration rights and impose lock-up and voting commitments, and the issuer has issued a $1,500,000 promissory note to the sponsor at a 12.0% interest rate with a 5.0% original issue discount.
SIM Acquisition Corp. I joint Schedule 13G/A filing reports institutional holdings in the issuer's Class A Ordinary Shares as of 03/31/2026. The filing shows First Trust Merger Arbitrage Fund (VARBX) beneficially owns 1,171,086 shares (5.09%) and the group identified as FTCM, FTCS and Sub GP beneficially owns 1,314,000 shares (5.63%). The filing states sole voting and sole dispositive power for the reported share amounts and is submitted jointly by the named First Trust entities.
Westchester Capital Management, LLC filed an amendment reporting beneficial ownership of 767,556 Class A ordinary shares of SIM Acquisition Corp. I, representing 3.34% of the class. The filing cites March 27, 2026 for a 23,000,000 share outstanding base, as reported in the issuer's Form 10-K.
SIM Acquisition Corp. I reported Q1 2026 net income of $2.03 million, driven by $2.16 million of interest on funds held in its Trust Account and $0.13 million of general and administrative expenses. Assets in the Trust Account were $247.27 million, with cash outside the trust of $468,399 and a working capital deficit of $153,812.
Auditors highlight substantial doubt about the company’s ability to continue as a going concern because it must complete a Business Combination by July 12, 2027 or liquidate. In January 2026, new investors acquired the sponsor, senior leadership changed, and a $10.95 million deferred underwriting fee was waived and replaced with a smaller success-based fee.
Subsequent to quarter-end, SIM entered a non-binding Letter of Intent to acquire American Industrial Technologies, Inc. and extended its combination deadline, but Public Shareholders redeemed 22,447,232 shares for about $242.18 million, significantly reducing cash held for an eventual merger.
SIM Acquisition Corp. I reported that SIM Sponsor 1 LLC, an entity associated with Eric Newman, converted 3,000,000 Class B ordinary shares into 3,000,000 Class A ordinary shares on May 11, 2026. The conversion occurred on a one-for-one basis at a stated price of $0.00 per share, reflecting a change in share class rather than a market purchase or sale. Following the transaction, the reporting persons held 3,000,000 Class A ordinary shares and continued to hold 4,646,669 Class B ordinary shares. Newman may be deemed a beneficial owner through his control of the sponsor entity but disclaims beneficial ownership beyond his pecuniary interest.
SIM Acquisition Corp. I reported several significant actions around its SPAC structure and timeline. The company converted 3,000,000 Class B ordinary shares held by its sponsor into 3,000,000 Class A ordinary shares on May 11, 2026 under an exemption from registration. After this conversion and meeting-related redemptions, 3,552,768 Class A ordinary shares and 4,666,667 Class B ordinary shares are issued and outstanding.
Shareholders approved an amendment to extend the deadline to complete a business combination from July 11, 2026 to July 12, 2027, or an earlier date set by the board. In connection with this extension vote, holders of 22,447,232 public shares redeemed at approximately $10.79 per share, for an aggregate of about $242.2 million, leaving 552,768 public shares outstanding. Shareholders also ratified the selection of WithumSmith+Brown, PC as auditor for the year ending December 31, 2026.
SIM Acquisition Corp. I director Anthony Hayes filed an initial statement of beneficial ownership on Form 3. The filing lists him as a director of SIM Acquisition Corp. I but does not report any transactions or share holdings, serving mainly as a baseline disclosure of his insider status.
SIM Acquisition Corp. I director Kyle Haug filed a Form 3, which is an initial insider ownership report for issuer SIMA. The filing lists Mr. Haug as a director and shows no reported transactions or derivative positions, with all buy, sell, and exercise share counts at zero.
SIM Acquisition Corp. I director Matthew John Saker has filed a Form 3, which is an initial statement of beneficial ownership of the company’s securities. The filing does not report any buy, sell, or other transaction in SIM Acquisition Corp. I shares.
SIM Acquisition Corp. I filed an update about its shareholder meeting and a proposed extension of its business combination deadline. The company has postponed its extraordinary general meeting from May 1, 2026 at 10:00 a.m. to May 7, 2026 at 3:00 p.m. Eastern Time.
At this meeting, shareholders will vote on an Extension Amendment Proposal to move the deadline to complete an initial business combination from July 11, 2026 to July 12, 2027, or an earlier date set by the board. The deadline for shareholders to exercise redemption rights tied to this vote is now May 5, 2026 at 5:00 p.m. Eastern Time.