SIM Sponsor 1 LLC 4
4 · SIM Acquisition Corp. I · Filed May 13, 2026
Research Summary
AI-generated summary of this filing
SIM Acquisition (SIMA) Sponsor Converts 3,000,000 Shares
What Happened SIM Sponsor 1 LLC (a 10% owner) elected on May 11, 2026 to convert 3,000,000 Class B ordinary shares into 3,000,000 Class A ordinary shares on a one-for-one basis. The Form 4 shows this as both an acquisition of 3,000,000 Class A shares (conversion of a derivative) and a disposition of 3,000,000 Class B shares at $0.00 — reflecting a non-cash conversion rather than a market purchase or sale. No cash changed hands and no dollar value is reported for the transaction.
Key Details
- Transaction date: May 11, 2026; Form 4 filed May 13, 2026 (timely filing).
- Transaction type: Conversion of derivative security (Class B → Class A) — 3,000,000 shares converted one-for-one.
- Reported prices/values: N/A for the acquisition line; $0.00 for the disposition line (non-cash conversion).
- Shares owned after transaction: not specified in the filed excerpt.
- Footnote highlights:
- F1: Class B shares convert to Class A one-for-one at the issuer's initial business combination or earlier at holder’s option; the Reporting Persons elected this conversion on May 11, 2026.
- F2: Eric Newman is manager of Conroy Partners LLC, the managing member of SIM Sponsor 1 LLC, and has voting/investment discretion over the shares; he disclaims beneficial ownership except to the extent of any pecuniary interest.
- Filing timeliness: No late-filing flag; appears filed promptly.
Context This was a structural conversion of share classes, not a buy or sell for cash. Conversions like this typically change class and voting/transferability status of the shares but do not by themselves represent a bullish or bearish trade by the holder. For retail investors, note that converted Class A shares may be tradable in the public market (depending on transfer restrictions and SPAC/company rules), which can increase the freely tradable float; however, this filing does not show any immediate sale. Also note this trade is reported for a sponsor/10% owner entity (institutional/sponsor context), not an individual executive selling for liquidity.
Insider Transaction Report
- Conversion
Class A Ordinary Shares
[F1][F2]2026-05-11+3,000,000→ 3,000,000 total - Conversion
Class B Ordinary Shares
[F1][F2]2026-05-11−3,000,000→ 4,646,669 total→ Class A Ordinary Shares (3,000,000 underlying)
Footnotes (2)
- [F1]The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments. The Class B ordinary shares have no expiration date. On May 11, 2026, the Reporting Persons elected to convert 3,000,000 Class B Ordinary Shares held by them into 3,000,000 Class A Ordinary Shares.
- [F2]Eric Newman is the manager of Conroy Partners LLC, the managing member of SIM Sponsor 1 LLC (the "Sponsor"), and holds voting and investment discretion with respect to the ordinary shares held of record by the Sponsor. As such, Mr. Newman may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Mr. Newman disclaims any beneficial ownership of the securities held of record by the Sponsor except to the extent of his pecuniary interest therein.