NEW YORK, July 11, 2024 (GLOBE NEWSWIRE) -- SIM Acquisition Corp. I (the "Company") announced today the closing of its initial public offering of 23,000,000 units, which includes 3,000,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The offering was priced at $10.00 per unit, resulting in gross proceeds of $230,000,000. The Company's units began trading on July 10, 2024 on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "SIMAU." Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols "SIMA" and "SIMAW," respectively. Of the proceeds received from the consummation of the initial public offering and a simultaneous ...