Company: SIMA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043361
Chunk: 158

Company: SIM Acquisition Corp. I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part II, Item 2
Chunk 158
---
Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds. 

Unregistered Sales of Equity Securities

There were no sales of unregistered
securities during the quarterly period covered by the Report. However, simultaneously with the closing of the Initial Public Offering,
pursuant to the Private Placement Warrants Purchase Agreements, we completed the private sale of an aggregate of 6,000,000 Private Placement
Warrants to the Sponsor and Cantor, with each Private Placement Warrant exercisable to purchase one Class A Ordinary Share at $11.50
per share, at a price of $1.00 per Private Placement Warrant, or $6,000,000 in the aggregate (irrespective of the underwriters’
exercise of the over-allotment option). Of those 6,000,000 Private Placement Warrants, the Sponsor purchased 4,000,000 Private Placement
Warrants and Cantor purchased 2,000,000 Private Placement Warrants. The Private Placement Warrants (and underlying securities) are
identical to the Public Warrants, except as otherwise disclosed in the IPO Registration Statement. No underwriting discounts or commissions
were paid with respect to such sale. The issuance of the Private Placement Warrants was made pursuant to the exemption from registration
contained in Section 4(a)(2) of the Securities Act.

Use of Proceeds

For a description of the use
of the proceeds generated in our Initial Public Offering, see Part II, Item 2 of our Quarterly Report on Form 10-Q for the quarterly period
ended March 31, 2024, as filed with the SEC on August 23, 2024. There has been no material change in the planned use of proceeds from
our Initial Public Offering and the Private Placement as described in the IPO Registration Statement. The specific investments in our
Trust Account may change from time to time.

Purchases of Equity Securities by the Issuer
and Affiliated Purchasers

None.

Item 3. Defaults Upon Senior Securities. 

None.

Item 4. Mine Safety Disclosures.

Not applicable.

Item 5. Other Information.

Trading Arrangements

During the quarterly period
ended March 31, 2025, none of our directors or officers (as defined in Rule 16a-1(f) promulgated under the Exchange Act) adopted
or terminated any “Rule 10b5-1 trading arrangement” or any “non-Rule