04:06 AM EDT, 07/10/2024 (MT Newswires) -- SIM Acquisition Corp. I said Tuesday it priced its initial public offering of 20 million units for gross proceeds of $200 million.

The blank-check firm granted the underwriters a 45-day option to buy up to an additional 3 million units.

The units are expected to be listed on the Nasdaq Stock Market and start trading this Wednesday under the ticker symbol, "SIMAU."

Each unit consists of one class A ordinary share and one-half of a redeemable warrant, each of which entitles the holder to buy one class A ordinary share at a price of $11.50 per share.

Once the securities start trading separately, the class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols "SIMA" and "SIMAW," respectively.

The IPO is expected to close on Thursday.