Radcliffe Capital Management L.P. Purchases 239,453 Shares of SIM Acquisition Corp. I $SIMA

Key Points

• Radcliffe Capital boosted its stake in SIM Acquisition Corp. I by 88.5% in the 3rd quarter, buying 239,453 shares to hold 510,032 shares (1.66% of the company) worth about $5.38 million per its Form 13F filing.
• Other institutions also moved in: Wolverine raised its position to 723,945 shares (+83.3%) and firms like Magnetar and Alberta Investment Management established sizable new positions (Magnetar ~ $20.37 million).
• SIMA trades around $10.69 (50-day MA $10.66, 200-day MA $10.59) and currently carries a consensus "Sell" rating, with Weiss Ratings reiterating a sell on Jan. 22.

Radcliffe Capital Management L.P. increased its position in SIM Acquisition Corp. I (NASDAQ:SIMA - Free Report) by 88.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 510,032 shares of the company's stock after buying an additional 239,453 shares during the quarter. Radcliffe Capital Management L.P. owned 1.66% of SIM Acquisition Corp. I worth $5,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SIMA. Wolverine Asset Management LLC boosted its position in SIM Acquisition Corp. I by 83.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 723,945 shares of the company's stock valued at $7,630,000 after buying an additional 328,929 shares during the period. Alberta Investment Management Corp purchased a new position in shares of SIM Acquisition Corp. I in the second quarter valued at about $7,822,000. Magnetar Financial LLC purchased a new position in shares of SIM Acquisition Corp. I in the second quarter valued at about $20,366,000. Berkley W R Corp raised its stake in shares of SIM Acquisition Corp. I by 23.5% during the second quarter. Berkley W R Corp now owns 521,518 shares of the company's stock valued at $5,435,000 after acquiring an additional 99,390 shares during the last quarter. Finally, Meteora Capital LLC bought a new position in shares of SIM Acquisition Corp. I during the second quarter valued at about $9,666,000.

SIM Acquisition Corp. I Price Performance

SIMA opened at $10.69 on Friday. The stock's 50 day moving average price is $10.66 and its 200-day moving average price is $10.59. SIM Acquisition Corp. I has a 52-week low of $10.15 and a 52-week high of $10.78.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of SIM Acquisition Corp. I in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".

About SIM Acquisition Corp. I

SIM Acquisition Corp. I is a Delaware‐incorporated special purpose acquisition company (SPAC) formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Since completing its initial public offering in March 2021, the company has focused on identifying targets in the technology, digital media, sports, entertainment and consumer sectors.

The proceeds from its IPO are held in a trust account pending shareholder approval of its initial business combination.

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