SIM Acquisition I Lines Up $1.5 Million Sponsor Note and $20,000/Month Admin Services
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SIM Acquisition I has entered two significant agreements to enhance its operations and liquidity. The company issued a promissory note of up to $1.5 million to its sponsor at a 12% interest rate, with a 5% original issue discount, maturing upon its initial business combination or liquidation. Additionally, it signed an administrative services agreement with Dominari Holdings for $20,000 per month, covering office space and support services. These agreements are aimed at providing necessary working capital and infrastructure as the SPAC progresses in its deal process.
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