SCHEDULE: First Trust Entities Report Zero Ownership in SIM Acquisition Corp. I

Several First Trust entities have jointly filed a Schedule 13G/A, reporting zero beneficial ownership of SIM Acquisition Corp. I's Class A Ordinary Shares as of June 30, 2026.

Summary

• This filing is an amendment to a Schedule 13G, indicating a joint filing by First Trust Merger Arbitrage Fund (VARBX), First Trust Capital Management L.P. (FTCM), First Trust Capital Solutions L.P. (FTCS), and FTCS Sub GP LLC (Sub GP).
• As of June 30, 2026, these reporting persons collectively owned 0 shares of SIM Acquisition Corp. I's Class A Ordinary Shares.
• FTCM acts as an investment adviser to client accounts, including VARBX, and may be deemed beneficial owner of shares held in these accounts.
• FTCS and Sub GP are identified as control persons of FTCM.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 2

Explanation: StockSavvy.ai views this as a very low score due to the filing indicating zero beneficial ownership of shares, suggesting no active investment or strategic interest in the company at this time.

Positives

• The reporting entities have confirmed they are not attempting to influence the control of SIM Acquisition Corp. I.
• The filing is up-to-date as of June 30, 2026.

Negatives

• The reporting entities collectively hold 0 shares, indicating no current investment or stake in SIM Acquisition Corp. I.
• This suggests a lack of confidence or interest from these investment entities in the company's Class A Ordinary Shares.

Risks

• The absence of any share ownership by significant investment entities like First Trust Merger Arbitrage Fund could signal a lack of perceived value or future prospects for SIM Acquisition Corp. I.
• Potential investors may interpret this lack of ownership as a negative signal regarding the company's stability or growth potential.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding future performance or strategy for SIM Acquisition Corp. I.

Management Comments

• Each of the Reporting Persons is a party to that certain Joint Filing Statement attached hereto.
• By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are typically made by institutional investors who acquire beneficial ownership of more than 5% of a class of a company's securities. The absence of such a filing or a report of zero ownership from a known arbitrage fund like First Trust Merger Arbitrage Fund is unusual and may indicate that the fund does not see a compelling arbitrage opportunity or has divested any prior holdings.

Comparison to Industry Standards

• Typically, a Schedule 13G filing is made when an entity acquires 5% or more of a company's voting stock. This filing, reporting 0% ownership, deviates from the standard use case for this form.
• Other merger arbitrage funds might be actively monitoring SIM Acquisition Corp. I for potential arbitrage opportunities, but this specific filing indicates no such activity from these First Trust entities.

Stakeholder Impact

• Shareholders of SIM Acquisition Corp. I may view the lack of investment from significant arbitrage funds as a negative signal, potentially impacting market sentiment.
• Potential investors might be deterred by the absence of interest from entities that typically seek out undervalued or merger-arbitrage opportunities.

Next Steps

• The reporting persons will continue to monitor their holdings in SIM Acquisition Corp. I and will file amendments to this Schedule 13G/A as required by SEC regulations.

Key Dates

Keywords

SIM Acquisition Corp. I, Schedule 13G, First Trust, Merger Arbitrage, Investment Adviser, Beneficial Ownership, Ordinary Shares