Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 152

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 152
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The underwriters received an underwriting discount
of $0.20 per unit (excluding those units sold as part of the underwriters’ over-allotment option), or $4.0 million in the aggregate,
paid upon the closing of the Initial Public Offering. The underwriters agreed to defer underwriting commissions equal to $0.45 per Unit
on Units other than those sold pursuant to the underwriters’ option to purchase additional Units and $0.65 per Unit on units sold
pursuant to the underwriters’ option to purchase additional units, or $10,950,000 in the aggregate. Upon completion of the Business
Combination, $10,950,000 will be paid to the underwriters from the funds held in the Trust Account. The deferred fee will become payable
to the underwriters from the amounts held in the Trust Account solely in the event that the Company completes a Business Combination,
subject to the terms of the underwriting agreement.

Note 8 – FAIR
VALUE MEASUREMENTS

The fair value of the Company’s financial
assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale
of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the
measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of
observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions
about how market participants would price assets and liabilities).

The following fair value hierarchy is used to
classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities:

Level 1: Quoted prices in active markets for identical
assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with
sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2: Observable inputs other than Level 1
inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical
assets or liabilities in markets that are not active.

Level 3: Unobservable inputs based on assessment
of the assumptions that market participants would use in pricing the asset or liability.

The following table presents information about
the Company’s assets that are measured at fair value on a recurring basis at December 31, 2024: