Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 564

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 564
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 A ordinary
shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, or to be issued, to any seller
in the initial Business Combination and any Private Placement Warrants issued to the Sponsor, officers or directors upon conversion of
Working Capital Loans; provided that such conversion of Founder Shares will never occur on a less than one-for-one basis.

Warrants — Public
Warrants may only be exercised for a whole number of shares. No fractional Public Warrants will be issued upon separation of the Units
and only whole Public Warrants will trade. The Public Warrants will become exercisable 30 days after the completion of a Business Combination.
The Company has agreed that as soon as practicable, but in no event later than 20 business days after the closing of the Business Combination,
the Company will use its commercially reasonable efforts to file with the SEC a post-effective amendment to the registration statement
for the Initial Public Offering or a new registration statement covering the registration under the Securities Act of the Class A
ordinary shares issuable upon exercise of the warrants and thereafter the Company will use its commercially reasonable efforts to cause
the same to become effective within 60 business days following the initial Business Combination and to maintain a current prospectus
relating to the Class A ordinary shares issuable upon exercise of the warrants until the expiration of the warrants in accordance
with the provisions of the public warrant agreement. 

The Company may redeem the Public Warrants:

    ●
    in whole and not in part;

    ● at a price of $0.01 per warrant; 

    ● upon a minimum of 30 days’ prior written notice of redemption to each warrant holder; and 

    ● if, and only if, the last reported sale price (the “closing price”) of the ordinary shares equals or exceeds $18.00 per share (as adjusted) for any 20 trading days within a 30-trading day period commencing once the Warrants become exercisable and ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders. 

The Company will not redeem
the Public Warrants as described above unless a registration statement under the Securities Act covering the ordinary shares issuable
upon exercise of the Public Warrants is then effective and a current prospectus relating to those ordinary shares is available throughout
the 30-day redemption period. Any such exercise would not be on