SIM Acquisition Corp. I Signs Key Administrative Services Agreement with Dominari Holdings Inc.

Highlights of the New Agreement

• Parties Involved: SIM Acquisition Corp. I (“the Company”) and Dominari Holdings Inc. (“Services Provider”) have entered into an Administrative Services Agreement.
• Start Date: The agreement is effective from March 18, 2026.
• Duration: The agreement remains in force until the earlier of the Company’s initial business combination or its liquidation.

Key Terms and Financial Impact

• Monthly Fee: Dominari Holdings Inc. will provide SIM Acquisition Corp. I with office space, utilities, and secretarial and administrative support at 725 Fifth Ave, 22nd Floor, New York, NY 10022 (or any successor location).
  • The Company will pay the Services Provider a monthly sum of \$20,000 as reimbursement for these services.
  • Payments commence on the agreement’s start date and continue monthly until the termination date. Funds are not pro-rated for partial months.
• Trust Account Protection: Importantly, Dominari Holdings Inc. has irrevocably waived any right to seek payment from the trust account established for the benefit of public shareholders, where the proceeds of the Company’s IPO are deposited.
  • This waiver means Dominari cannot claim or access any funds in the trust account under any circumstances, protecting shareholder interests and ensuring the trust account is preserved solely for its intended purposes.
• Assignment Rights: The agreement restricts assignment by either party without written consent, except that Dominari Holdings may assign the agreement to the Sponsor or its affiliates without the Company’s prior written approval. Any assignment violating these terms will be void.
• Governing Law: The agreement is governed by the laws of the State of New York.

Potential Impact on Shareholders & Share Price

• Cost Structure: The \$20,000 per month administrative fee is a recurring expense that will impact the Company’s cash flows until a business combination or liquidation. Investors should factor this cost into their analysis of the Company’s ongoing operating expenses.
• Trust Account Security: The explicit waiver by Dominari Holdings regarding the trust account is a critical safeguard for public shareholders, ensuring that the funds raised in the IPO remain fully protected and are not subject to operational claims by the services provider. This protection can enhance investor confidence and may positively influence share valuation, as it reduces the risk of trust account erosion.
• Business Combination Timeline: The agreement’s duration being tied to the business combination or liquidation provides insight into the Company’s operational runway and strategic timeline, which may be relevant for investors tracking the Company’s progress toward a transaction.

Signatories

• SIM Acquisition Corp. I: Signed by David Kutcher, Chief Financial Officer.
• Dominari Holdings Inc.: Signed by Kyle Wool, President.

Conclusion

This agreement establishes a clear framework for the Company’s administrative operations while providing important protections for shareholder funds. The explicit waiver regarding the trust account is particularly significant and should reassure investors about the integrity of the IPO proceeds. The \$20,000 monthly fee, however, is a material ongoing cost that investors should consider when evaluating the Company’s financial position.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence before making any investment decisions.

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