SIM Acquisition I reports $0 revenue; Net income $8.79M (2025) and $4.75M (2024)

SIM Acquisition I reported no operating revenue for the periods covered and recorded net income of $8.79 million for 2025 and $4.75 million for 2024; the positive results primarily reflect interest earned on the company's trust account while general and administrative expenses reduced those gains. Earnings per share is not provided in the filing; the net income amounts arise mainly from trust interest (approximately $9.80M in 2025 and $5.32M in 2024) less G&A expenses. The company remains a blank-check vehicle pursuing an initial business combination and has continued organizational and deal-evaluation activities. Financial Highlights Revenue: $0.00 — the company has not generated operating revenues to date and will not until after a business combination.Net Income (2025): $8.79 million — includes $9.80 million of interest income on the trust account offset by $1.01 million of general and administrative expenses.Net Income (2024): $4.75 million — includes $5.32 million of interest income on the trust account offset by $0.58 million of general and administrative expenses. Business Highlights Business focus: Targeting healthcare companies for an initial business combination; management is evaluating acquisition candidates and conducting due diligence.Operational activity: No revenue-producing operations to date; primary activities have been organizational setup, completing the IPO and pursuing potential targets.Liquidity and use of proceeds: Approximately $230 million held in trust to be used for an eventual business combination; interest on the trust funds has funded taxes and limited outside working capital to pursue deals.Governance changes: Sponsor acquisition resulted in CEO and board changes in January–March 2026, affecting leadership and oversight of deal execution.Original SEC Filing: SIM Acquisition Corp. I [ SIMA ] - 10-K - Mar. 27, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.