SIM Sponsor 1 LLC Reports 93.2% Stake in SIM Acquisition Corp. I Following Share Conversion

SIM Sponsor 1 LLC, jointly with Conroy Partners LLC and Eric Newman, filed a Schedule 13D reporting a 93.2% beneficial ownership stake in SIM Acquisition Corp. I (SIMA). This position consists of 7,646,669 Class A ordinary shares, which includes 3,000,000 shares recently converted from Class B ordinary shares on May 11, 2026, and an additional 4,646,669 shares issuable upon the conversion of remaining Class B ordinary shares. The reporting persons originally acquired the Class B shares for $25,000 in January 2024. The filing also notes that the Sponsor holds 4,000,000 private placement warrants, which are not currently exercisable. The shares are held for investment purposes, subject to a letter agreement restricting transfers until six months after a business combination. Additionally, the Issuer recently issued a $1.5 million promissory note to the Sponsor to support working capital requirements. Eric Newman serves as the managing member of Conroy Partners LLC, which is the managing member of the Sponsor.