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SIMAW

SIM Acquisition Corp. I

SIMAW

SIM Acquisition Corp. I • NASDAQ
$0.26 ▼ -8.92% (-0.03)
Market Cap $6.08 M
52w High $0.31
52w Low $0.24
Dividend Yield 0%
P/E 0
Volume 6.15K
Outstanding Shares 23.00M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $258.011K ▲ $2.252M ▼ 0% $0.07 ▼ $0 ▲
Q2-2025 $0 $181.535K ▼ $2.298M ▲ 0% $0.075 ▲ $-181.535K ▲
Q1-2025 $0 $241.472K ▼ $2.223M ▼ 0% $0.072 ▼ $-241.472K ▼
Q4-2024 $0 $264.21K ▼ $2.431M ▲ 0% $0.079 ▲ $2.431M ▲
Q3-2024 $0 $270.193K $2.357M 0% $0.077 $-270.193K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $169.145K ▼ $243.11M ▲ $10.95M $-10.559M ▼
Q2-2025 $346.169K ▼ $240.822M ▲ $10.95M ▼ $229.865M ▲
Q1-2025 $511.696K ▼ $238.557M ▲ $10.99M ▲ $227.567M ▲
Q4-2024 $697.085K ▼ $236.327M ▲ $10.983M ▲ $225.344M ▲
Q3-2024 $860.086K $233.873M $10.96M $222.913M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $4.473M ▲ $-177.024K ▼ $0 $0 $-177.024K ▼ $-177.024K ▼
Q2-2025 $2.298M ▲ $-165.528K ▲ $0 $0 $-165.528K ▲ $-165.528K ▲
Q1-2025 $2.223M ▼ $-185.388K ▲ $0 $0 ▼ $-185.388K ▼ $-185.388K ▲
Q3-2024 $2.357M $-500.186K $0 $231.341M $840.834K $-500.19K

Five-Year Company Overview

Income Statement

Income Statement SIM Acquisition Corp. I is essentially a cash shell today, so its income statement is very simple. It has no operating revenue and no real business activity yet. Any earnings so far mainly reflect interest income on the cash held in trust, offset by the ongoing costs of running the SPAC and searching for a deal. The small positive earnings per share figure is not a sign of an operating business performing well; it is a by‑product of how SPACs are structured and will change sharply once a merger is completed or if the vehicle is liquidated.

Balance Sheet

Balance Sheet The balance sheet is straightforward and typical for a SPAC. Almost all assets are cash or cash‑like securities held in a trust account, with very little in the way of tangible operating assets. Equity makes up nearly the entire capital base and there is effectively no traditional financial debt, so leverage is minimal. This is a clean, low‑complexity balance sheet, but it is also temporary: the quality and risk profile of the balance sheet will change dramatically once a target company is acquired or if funds are returned to shareholders.

Cash Flow

Cash Flow Cash flow is not meaningful in the traditional business sense here. There is no ongoing operating cash inflow from customers, only interest on the funds in trust. Outflows mainly reflect routine corporate expenses and the costs of maintaining and negotiating a potential transaction. Capital spending is basically nonexistent because there are no physical operations. Real, recurring cash flow dynamics will only emerge after a business combination is completed and a true operating company sits inside the listed entity.

Competitive Edge

Competitive Edge As a SPAC, SIM Acquisition Corp. I does not compete through products, services, or market share. Its competitive position rests almost entirely on the quality, reputation, and networks of its sponsors and management team, and on its ability to source and close an attractive deal in healthcare before its deadline. The leadership group appears to have deep expertise and connections in healthcare and intellectual property, which may help in finding proprietary opportunities. At the same time, they operate in a crowded environment where private equity funds, strategic buyers, and other SPACs are all pursuing similar high‑growth healthcare targets, so execution and timing are critical.

Innovation and R&D

Innovation and R&D The company itself does not run research and development, nor does it hold proprietary technology. Any innovation story here is purely about the future target it may merge with, particularly in areas like biotechnology, medical devices, digital health, or healthcare services. The management team explicitly aims to partner with a high‑growth, innovation‑driven healthcare business that is ready for public markets. Until a deal is announced, there is no visibility into the eventual R&D intensity, product pipeline, or technological moat of the combined entity.

Summary

SIM Acquisition Corp. I, through its SIMAW warrants, is a blank‑check company: today it is essentially a pool of capital with a specialist healthcare deal team attached. Financially, it shows no revenue, minimal expenses relative to its capital base, and a very simple, largely unlevered balance sheet dominated by cash in trust. The real story is entirely forward‑looking and hinges on whether the sponsors can identify, negotiate, and close a high‑quality healthcare acquisition before their contractual deadline. Key uncertainties include the timing and terms of any merger, investor appetite at the time of deal announcement, and the risk that no suitable target is found and the vehicle is wound down. Any long‑term assessment will only become meaningful once a specific target company and its underlying business fundamentals are disclosed.