Company: SIMA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043361
Chunk: 8

Company: SIM Acquisition Corp. I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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, liquidate and dissolve. The warrants will expire on liquidation
of the Trust Account and the holders of warrants will receive no proceeds in connection with the liquidation. The holders of the Founder
Shares will not participate in any redemption distribution with respect to their Founder Shares.

If the Company is unable to
complete its Business Combination and expends all of the net proceeds of the Initial Public Offering not deposited in the Trust Account,
without taking into account any interest earned on the Trust Account, the initial per-share redemption price for ordinary shares was $10.00.
The proceeds deposited in the Trust Account could, however, become subject to claims of the Company’s creditors that are in preference
to the claims of the Company’s shareholders. In addition, if the Company is forced to file a bankruptcy or winding up petition or
an involuntary bankruptcy or winding up petition is filed against it that is not dismissed, the proceeds held in the Trust Account could
be subject to applicable bankruptcy or insolvency law, and may be included in its bankruptcy or insolvency estate and subject to the claims
of third parties with priority over the claims of the Company’s ordinary shareholders. Therefore, the actual per-share redemption
price may be less than approximately $10.00.

6

Risks and Uncertainties

The
Company’s results of operations and its ability to complete an initial Business Combination may be adversely affected by various
factors that could cause economic uncertainty and volatility in the financial markets, many of which are beyond the Company’s control.
The Company’s results of operations and its ability to consummate an initial Business Combination could be impacted by, among other
things, downturns in the financial markets or in economic conditions, increases in oil prices, inflation, fluctuations in interest rates,
increases in tariffs, supply chain disruptions, declines in consumer confidence and spending, public health considerations, and geopolitical
instability, such as the military conflicts in Ukraine and the Middle East. The Company cannot at this time predict the likelihood of
one or more of the above events, their duration or magnitude or the extent to which they may negatively impact the Company’s business
and its ability to complete an initial Business Combination.

Liquidity and Capital Sources

 As of March 31, 2025 and December
31, 2024, the Company had a cash balance of $511,697 and $697,085 and a working capital surplus of $550,204 and $791,676, respectively.
Further, the Company has incurred and expects to