<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2026-02-18</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0002101562</issuerCik>
        <issuerName>PALOMA ACQUISITION CORP I</issuerName>
        <issuerTradingSymbol>PALO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002109518</rptOwnerCik>
            <rptOwnerName>SIMANIKAS AFFIE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PALOMA ACQUISITION CORP. I,</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 2, 103 FLORA TERRACE</rptOwnerStreet2>
            <rptOwnerCity>NORTH BEACH</rptOwnerCity>
            <rptOwnerState>C3</rptOwnerState>
            <rptOwnerZipCode>WA 6020</rptOwnerZipCode>
            <rptOwnerStateDescription>AUSTRALIA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Class B Ordinary Shares</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A ordinary shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>80000</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents Class B ordinary shares of Paloma Acquisition Corp I (the &quot;Issuer&quot;) which will automatically convert into Class A ordinary shares of the Issuer concurrently with or immediately following the consummation of the Issuer's initial business combination, or earlier at the option of the holder on a one-for-one basis, subject to adjustment, as described in the Registration Statement on Form S-1 (File No. 333-293083) related to the Issuer's initial public offering.</footnote>
    </footnotes>

    <remarks>See Exhibit 24.1 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Spencer Cercone, as Attorney-in-Fact</signatureName>
        <signatureDate>2026-02-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
