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 (SIMA) entered into a binding Letter of Intent with American Industrial Technologies, Inc. (AIT) for a proposed combination in which AIT would merge with a newly formed, wholly owned SIM subsidiary. At closing, SIM would issue approximately 50,000,000 common shares to AIT equity holders, including holders of options, warrants and other convertible securities, in connection with acquiring 100% of AIT’s outstanding equity and equity equivalents. Completion is subject to due diligence satisfactory to each party, execution of definitive documents, and shareholder and board approvals.
AIT’s current CEO, John Chiorando, is to become CEO and chairman of the combined company. The LOI provides for an employee stock incentive plan with equity awards of up to 10.0% of fully diluted capitalization and a 12-month lock-up for certain significant AIT stockholders. A $5,000,000 termination fee is payable to SIM in specified cases, including certain terminations or failures to proceed; exclusivity runs through December 31, 2026.
On October 2, 2026, SIM Acquisition Corp. I (SIMA) and American Industrial Technologies, Inc. (AIT) entered a binding letter of intent for a proposed business combination, replacing their earlier non-binding letter. AIT would merge with a newly formed, wholly owned SIM subsidiary and survive. At closing, SIM would issue AIT equity holders approximately 50,000,000 common shares, including holders of options, warrants and other convertible securities; the count gives effect to SIM’s domestication from the Cayman Islands to Nevada.
AIT CEO John Chiorando would become CEO and Chairman of the combined company. A proposed employee stock incentive plan would provide awards of up to 10.0% of fully diluted capitalization; certain significant AIT stockholders would be required to place their Transaction Shares under a 12-month lock-up from closing. Completion remains subject to customary closing conditions, including due diligence satisfactory to each party, execution of definitive documents, and shareholder and board approvals. The LOI provides for a $5,000,000 termination fee to SIM in specified circumstances and extends exclusivity through December 31, 2026.
SIM Acquisition Corp. I (SIMA) received an amended Schedule 13G filing (Amendment No. 1) in which Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman report that, as of June 30, 2026, they collectively beneficially owned 0 shares of SIMA common stock.
The reporting group states it now has 0% beneficial ownership of SIMA’s common stock, with no sole or shared voting or dispositive power over any shares, indicating its position has fallen to or remains at 5% or less of the class.
SIM Acquisition Corp. I received an amended Schedule 13G showing that First Trust Merger Arbitrage Fund, First Trust Capital Management L.P., First Trust Capital Solutions L.P., and FTCS Sub GP LLC collectively beneficially owned 0 Class A Ordinary Shares as of June 30, 2026.
Each reporting person reports 0% of the outstanding Class A Ordinary Shares, with no sole or shared voting or dispositive power over any shares, confirming their status as owning 5% or less of this class.
SIM Acquisition Corp. I reported June 30, 2026 results as a SPAC still seeking a business combination. Assets in the Trust Account fell to $6,112,563 from $245,118,303, driven by the May 2026 redemption of 22,447,232 public shares for about $242.2 million at $10.79 per share, leaving 552,768 public shares outstanding.
For the six months ended June 30, 2026, SIM generated net income of $2,410,573, primarily from $3,169,731 of interest on Trust investments, offset by $759,158 of general and administrative expenses. A January 2026 fee reduction eliminated the $10,950,000 deferred underwriting liability in favor of a smaller success-based fee.
The company extended its combination deadline to July 12, 2027 and signed a non-binding LOI to acquire American Industrial Technologies, Inc., with the LOI extended to October 31, 2026. Management disclosed a working capital deficit of $793,323 and stated that mandatory liquidation if no deal is completed by the deadline raises substantial doubt about its ability to continue as a going concern.
SIM Acquisition Corp. I received an updated institutional ownership report from AQR Capital Management, LLC, AQR Capital Management Holdings, LLC, and AQR Arbitrage, LLC. In this amendment to their Schedule 13G, the AQR entities report beneficial ownership of 0 Class A Ordinary Shares of SIM Acquisition Corp. I, representing 0% of the class.
The filing states that each AQR entity now has no sole or shared voting or dispositive power over any Class A Ordinary Shares. The amendment confirms that the AQR entities are now in the category of holders of 5% or less of this class of securities.
Picton Mahoney Asset Management, an investment fund manager organized under Canadian federal law, filed an amended ownership report for SIM Acquisition Corp. I Class A Ordinary Shares. The firm reports beneficial ownership of 0 shares, representing 0% of the class, with no sole or shared voting or dispositive power.
The filing notes that 3,552,768 Class A Ordinary Shares were outstanding as of May 14, 2026, based on the company’s quarterly report filed May 15, 2026; this is a baseline figure, not the amount held by the filer. The certification is signed by Chief Compliance Officer Ahsan Ahmed on August 11, 2026, including a statement that the foreign regulatory scheme applicable to the filer is substantially comparable to the functionally equivalent U.S. regime.
SIM Acquisition Corp. I amendment to a Schedule 13G/A states that Karpus Management, Inc. reports 0.00 shares beneficially owned of Common Stock (CUSIP G8431T101), representing 0.00% of the class. The filing is signed by the Chief Compliance Officer on 06/05/2026.
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.