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SIM Acquisition Corp. I Class A ( (SIMA) ) has issued an update.
On March 18, 2026, SIM Acquisition Corp. I entered into an administrative services agreement with Dominari Holdings Inc., under which the SPAC will pay $20,000 per month for office space, utilities, and administrative support until it completes a business combination or liquidates, with Dominari waiving any claim on the SPAC’s trust account. On the same date, the company issued a promissory note of up to $1.5 million to its sponsor, carrying a 12% annual interest rate and a 5% original issue discount, to fund working capital needs until either the closing of its initial business combination or its liquidation, clarifying how its ongoing expenses will be financed during the deal-search period.
More about SIM Acquisition Corp. I Class A
SIM Acquisition Corp. I is a special purpose acquisition company (SPAC) formed to pursue an initial business combination, operating from offices at 725 Fifth Avenue in New York. As a blank-check company, it focuses on identifying and merging with a target business, rather than generating operating revenue from traditional products or services.
Average Trading Volume: 32,630
Technical Sentiment Signal: Buy
Current Market Cap: $327.5M
Learn more about SIMA stock on TipRanks’ Stock Analysis page.