The IPO Buzz: SIM Acquisition I (SIMAU) Raises $200 Million in July’s Second SPAC IPO

Healthcare-focused SIM Acquisition Corp. I (SIMAU) raised $200 million – as expected – by pricing its SPAC IPO on Tuesday night, July 9, 2024. At pricing, SIM Acquisition I became the second SPAC IPO priced so far in July. The SIM I  deal was the 18^th SPAC IPO priced in 2024 so far. SIM Acquisition I priced 20.0 million units at $10.00 each on Tuesday night, July 9, to trade Wednesday, July 10, 2024, on the NASDAQ. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Cantor was the sole book-runner. SIM Acquisition Corp. I, based in Miami, is run by CEO Erich Spangenberg and CFO David Kutcher. They are the co-founders of Sauvegarder Investment Management (also known as “SIM”). Sauvegarder, or SIM, was founded in 2023. SIM invests across IP (intellectual property) as an asset class and across jurisdictions, mostly focusing on the United States, Europe and Israel. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.