Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 1381

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 15
Chunk 1381
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— The
Company is authorized to issue 500,000,000 Class A ordinary shares with a par value of $0.0001 per share. At December 31, 2024, there
were no Class A Ordinary Shares issued or outstanding, excluding 23,000,000 Class A Ordinary Shares subject to possible redemption.

Class B Ordinary
Shares — The Company is authorized to issue 50,000,000 Class B ordinary shares with a par value of $0.0001
per share. Holders are entitled to one vote for each Class B ordinary share. As of December 31, 2024, there were 7,666,667 Class B
ordinary shares issued and outstanding (as restated, see Note 5).

F-15

Holders of the Class A
ordinary shares and holders of the Class B ordinary shares will vote together as a single class on all matters submitted to a vote
of the Company’s shareholders, except as required by law or stock exchange rule; provided that only holders of the Class B
ordinary shares have the right to vote on the appointment of the Company’s directors prior to the initial Business Combination.

The Class B ordinary
shares will automatically convert into Class A ordinary shares at the time of the initial Business Combination on a one-for-one basis
(as adjusted). In the case that additional Class A ordinary shares or equity-linked securities are issued or deemed issued in connection
with the initial Business Combination, the number of Class A ordinary shares issuable upon conversion of all Founder Shares will
equal, in the aggregate, 25% of the total number of Class A ordinary shares outstanding after such conversion (after giving effect
to any redemptions of Class A ordinary shares by Public Shareholders), including the total number of Class A ordinary shares
issued, or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by
the Company in connection with or in relation to the consummation of the initial Business Combination, excluding any Class 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.

W