SIM Acquisition I, a blank check company formed by Sauvegarder Investment Management targeting healthcare, filed on Monday with the SEC to raise up to $200 million in an initial public offering.
The Miami, FL-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, SIM Acquisition I would command a market value of $267 million.
SIM Acquisition I is led by CEO and Chairman Erich Spangenberg and CFO and Director David Kutcher, co-founders of multi-strategy investment firm Sauvegarder Investment Management, where they serve as Managing Partner and Co-Managing Partner, respectively. The SPAC plans to target the healthcare sector, looking at criteria such as industry attractiveness and value proposition, among others.
SIM Acquisition I was founded in 2024 and plans to list on the Nasdaq under the symbol SIMAU. Cantor Fitzgerald is the sole bookrunner on the deal.
