SIM Acquisition I, a blank check company formed by Sauvegarder Investment Management targeting healthcare, raised $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.
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 plans to list on the Nasdaq under the symbol SIMAU. Cantor Fitzgerald acted as sole bookrunner on the deal.
