Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 864

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 864
---
 $767  
    $-  
    $(9,879,091) 
    $(9,878,324)

The accompanying notes are an integral part of this financial
statement.

F-5

SIM ACQUISITION CORP. I

STATEMENT OF CASH FLOWS

FOR THE PERIOD FROM JANUARY 29, 2024
(INCEPTION) TO DECEMBER 31, 2024

    Cash Flows from Operating Activities 

    Net income 
    $4,747,104 
  
    Adjustments to reconcile net income to net cash used in operating activities 

    Interest earned on cash and marketable securities held in Trust Account 
     (5,322,812)
  
    Formation Costs paid by Sponsor in exchange for issuance of Class B ordinary shares 
     6,364 
  
    Changes in operating assets and liabilities 

    Increase (decrease) in cash attributable to Prepaid Expense 
     (307,200)
  
    Increase (decrease) in cash attributable to Accounts Payable and Accrued Expenses 
     32,609 
  
    Net cash used in operating activities 
     (843,935)
  
    Cash Flows from Investing Activities 

    Investment of cash in Trust Account 
     (230,000,000)
  
    Net cash used in investing activities 
     (230,000,000)
  
    Cash Flows from Financing Activities 

    Promissory Note - Related Party 
     260,000 
  
    Proceeds from sale of units at gross 230,000,000, net of underwriting discounts paid 
     226,000,000 
  
    Proceeds from sale of Private Placement at gross amount 
     6,000,000 
  
    Repayment of Promissory Note - Related Party 
     (297,500)
  
    Payment of Offering Costs 
     (421,480)
  
    Net cash provided by operating financing activities 
     231,541,020 
  
    Net increase in cash 
     697,085 
  
    Cash at beginning of the period 
     - 
  
    Cash at end of the period 
    $697,085 

    Supplemental Disclosure of Non-cash for Investing and Financing Activities: 

    Formation costs and offering costs paid by Sponsor for the issuance of Founder Shares 
    $25,000 
  
    Deferred offering costs included in accounts payable