The balance sheet has weakened as the entity transitioned from a debt-free status to carrying $702.3K in debt as of 2026Q1, while accumulated deficits of $61.8K distort the underlying equity quality.
| Total Current Assets | 607.15K | 270.43K | 824.28K |
| Cash & Short-Term Investments | - | - | - |
| Cash Only | - | - | - |
| Short-Term Investments | - | - | - |
| Accounts Receivable | - | - | - |
| Days Sales Outstanding | - | - | - |
| Inventory | - | - | - |
| Days Inventory Outstanding | - | - | - |
| Other Current Assets | 0 | -245.12M | 0 |
| Total Non-Current Assets | 247.27M | 245.12M | 235.5M |
| Property, Plant & Equipment | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| Long-Term Investments | 975.43M | 245.12M | 235.32M |
| Other Non-Current Assets | - | - | - |
| Total Assets | 247.88M | 245.39M | 236.33M |
| Asset Turnover | 0.00x | - | - |
| Asset Growth % | 106378.36% | 3.83% | - |
| Total Current Liabilities | 768.22K | 304.59K | 32.61K |
| Accounts Payable | 0 | 304.59K | 32.61K |
| Days Payables Outstanding | - | - | - |
| Short-Term Debt | 702.26K | 0 | 0 |
| Deferred Revenue (Current) | 0 | - | - |
| Other Current Liabilities | 65.96K | 0 | 0 |
| Current Ratio | 0.79x | 0.89x | 25.28x |
| Quick Ratio | 0.79x | 0.89x | 25.28x |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 0 | 10.95M | 10.95M |
| Long-Term Debt | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - |
| Deferred Tax Liabilities | 0 | - | - |
| Other Non-Current Liabilities | - | - | - |
| Total Liabilities | 768.22K | 11.25M | 10.98M |
| Total Debt | 702.26K | 0 | 0 |
| Net Debt | 233.86K | -65.43K | -697.09K |
| Debt / Equity | 0.00x | - | - |
| Debt / EBITDA | 0.44x | - | - |
| Net Debt / EBITDA | 0.15x | - | -0.15x |
| Interest Coverage | - | - | - |
| Total Equity | 247.11M | 234.13M | 225.34M |
| Equity Growth % | 1382174.2% | 3.9% | - |
| Book Value per Share | 10.74 | 10.18 | 7.35 |
| Total Shareholders' Equity | 247.11M | 234.13M | 225.34M |
| Common Stock | 247.17M | 245.02M | 235.22M |
| Retained Earnings | -61.84K | -10.88M | -9.88M |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
Liquidation before merger completion
As reported in financial statements, SIMAW's cash position has fluctuated significantly, with the 2026Q1 balance of $468.4K representing a precarious buffer for a shell entity that must sustain ongoing administrative and regulatory compliance costs while navigating a challenging healthcare acquisition environment before the merger deadline.
The current ratio of 0.79 in 2026Q1 indicates that the company's immediate liabilities now exceed its liquid assets, suggesting a tightening liquidity profile. Investors should monitor whether the sponsor will be required to provide additional capital injections to maintain the entity's public listing status.
Based on the reported figures, SIMAW's total assets have remained largely stagnant near $247.9M, yet the underlying composition has shifted from cash-heavy trust holdings to a more complex liability structure, signaling a weakening balance sheet trajectory as the company approaches its mandatory business combination window.
The transition from a cash-rich trust structure to one burdened by increasing liabilities suggests that the company is consuming its resources to sustain operations. This trajectory implies that the entity's ability to finalize a high-quality merger may be compromised by the erosion of its initial capital base.
According to recent SEC filings, SIMAW has transitioned from a debt-free status to carrying $702.3K in debt as of 2026Q1, which warrants further investigation into the nature of these obligations and whether they represent short-term bridge financing required to sustain the entity's ongoing search for a target.
The introduction of debt into a shell company's balance sheet is an atypical development that may indicate stress in funding administrative expenses. This shift suggests that the sponsor's reliance on external capital is increasing, potentially complicating the eventual terms of any future business combination.
As indicated by the reported financial data, the company's equity position is heavily distorted by accumulated deficits of $61.8K, which masks the true economic cost of the sponsor's deal-sourcing activities and highlights the potential for significant shareholder dilution should additional capital be required to close a deal.
The negative retained earnings trend suggests that the entity is consistently losing value, which may not be fully captured by the headline asset figures. Investors should be cautious, as the current equity structure may not reflect the full extent of the liabilities associated with deferred underwriting commissions.
Quick answers to the most common questions about buying SIMAW stock.
As of 2025, SIM Acquisition Corp. I (SIMAW) had total assets of $245.4M including $0.3M in current assets.
SIM Acquisition Corp. I (SIMAW) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
SIM Acquisition Corp. I (SIMAW) has total shareholders' equity (book value) of $234.1M ($10.18 book value per share). Book value represents the net worth of the company belonging to common stock holders.
SIM Acquisition Corp. I (SIMAW) reported a current ratio of 0.89x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.