SIM Acquisition Corp. I (SIMA): debt financing — SIM Acquisition Corp. I secures $1.5M sponsor note and admin services deal

SIM Acquisition Corp. I

Administrative Services Agreement with Dominari Holdings for $20,000/month for office and support.
Promissory note from sponsor SIM Sponsor 1 LLC up to $1.5M at 12% interest with 5% OID.
Note due upon earliest of business combination or company liquidation; back-to-back with senior note from American Ventures LLC.
Proceeds used for working capital; interest payable in kind added to principal.
Agreements dated March 18, 2026; effective until business combination or liquidation.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SIM Acquisition Corp. I incurred loan of up to $1,500,000 with Sponsor at 12% per annum, based on actual days / 360 and there is a 5.0% original issue dis maturing upon the earlier to occur of the closing of an initial business combination, or the liquidation of the Company.

Instrument: loan
Principal: up to $1,500,000
Counterparty: Sponsor
Rate: 12% per annum, based on actual days / 360 and there is a 5.0% original issue dis
Maturity: upon the earlier to occur of the closing of an initial business combination, or the liquidation of the Company
Event: incurrence

Exact text from the filing

the Company issued a promissory note in the aggregate principal amount of up to $1,500,000 to the Sponsor (the “ Note ”) to be used for the Company’s working capital needs. The Note bears an interest rate of 12% per annum, based on actual days / 360 and there is a 5.0% original issue discount (OID). The Note is due and payable upon the earlier to occur of the closing of an initial business combination, or the liquidation of the Company.

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SIM Acquisition Corp. I filing history →

Source: SEC EDGAR

accession 0001213900-26-033618

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