SIM Acquisition I Corp (NASDAQ: SIMA) is a blank-check special purpose acquisition company (SPAC) incorporated in the Cayman Islands that raised capital through an initial public offering to identify and complete a merger or business combination with a private operating company. The company does not generate operating revenue. It holds IPO proceeds in a trust account, approximately $245.1 million as of December 31, 2025, and deploys that capital as consideration in a qualifying business combination. SIMA's stated acquisition focus is U.S.-headquartered companies involved in domestic manufacturing, supply chains, and technology. The company must complete its initial business combination by July 11, 2026, the end of its 24-month Combination Period from IPO closing, or it will liquidate and distribute trust funds to shareholders. Leadership is Christopher Devall (CEO), Anthony Hayes (Chairman), and David Kutcher (CFO and Director). A promissory note of up to $1,500,000 was issued to the Sponsor on March 18, 2026, bearing 12% per annum interest with a 5.0% original issue discount, due upon business combination or liquidation.

Revenue model

No operating revenue. The company earns interest on trust account holdings prior to a business combination. Sponsor and management economics are realized through founder shares and private placement warrants upon completion of a qualifying transaction.

Products and services

Trust account holding IPO proceeds (~$245.1 million as of December 31, 2025). Class A and Class B ordinary shares. Public warrants. Sponsor promissory note (up to $1,500,000, issued March 18, 2026). Target acquisition focus: U.S.-based companies in domestic manufacturing, supply chains, and technology.

Customers and end markets

Private operating companies seeking a liquidity event, growth capital, or balance sheet improvement via a SPAC merger. Target end markets per 10-K (filed 2026-03-27): U.S. domestic manufacturing, critical supply chains, and technology and innovation sectors.

Value-chain role

Capital aggregation and transaction facilitation vehicle. Sources public equity capital through an IPO, holds proceeds in trust, and transfers capital to a target business through a negotiated business combination. Acts as acquirer and listing vehicle for private companies.

Geographic exposure

Incorporated in the Cayman Islands. Headquartered at 78 SW 7th Street, Suite 500, Miami, Florida. Acquisition targets intended to be headquartered and primarily operating in the United States (per 10-K filed 2026-03-27).

Source: SEC 10-K, filed 2026-03-27

Industry: Blank Checks