Sim Acquisition Q2 FY26 net income falls to $382,174; interest income drops to $1.01 million - SIMA News | RalliesSim Acquisition Q2 FY26 net income falls to $382,174; interest income drops to $1.01 million
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SIMA• Acquisition process update
- The company entered a non-binding LOI to acquire American Industrial Technologies on April 26, 2026, with the LOI extended to Oct. 31, 2026.
Six-month income and trust balance
- Six-month net income slid to $2.41 million from $4.52 million, reflecting $3.17 million of trust interest income and $759,158 of overhead.
- Cash and marketable securities in the trust account stood at $6.11 million at June 30, 2026 following May redemptions totaling about $242.18 million.
Quarterly results decline as trust income falls
- Sim Acquisition posted net income of $382,174 for the quarter ended June 30, 2026, down from $2.3 million a year earlier.
- Interest income from the trust account fell to $1.01 million from $2.48 million, while general and administrative costs rose to from .
$632,248
$181,535
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