Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 164

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 164
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Item
1A.  Risk Factors.

As a smaller reporting company
under Rule 12b-2 of the Exchange Act, we are not required to include risk factors in this Report. However, the following is a partial
list of material risks, uncertainties and other factors that could have a material effect on us and our operations:

●we
are a blank check company and an early stage company with no revenue or basis to evaluate our ability to select a suitable business target;

●we
may not be able to select an appropriate target business or businesses and complete our initial Business Combination within the Combination
Period;

●our
expectations around the performance of a prospective target business or businesses may not be realized;

●we
may not be successful in retaining or recruiting required officers, key employees or directors following our initial Business Combination;

●our
officers and directors may have difficulties allocating their time between our Company and other businesses and may potentially have
conflicts of interest with our business or in approving our initial Business Combination;

●we
may not be able to obtain additional financing to complete our initial Business Combination or reduce the number of shareholders requesting
redemption;

●we
may issue our shares to investors in connection with our initial Business Combination at a price that is less than the prevailing market
price of our shares at that time;

●our
shareholders may not be given the opportunity to choose the initial business target or to vote on the initial Business Combination;

16

●Trust
Account funds may not be protected against third party claims or bankruptcy;

●an
active market for our public securities may not develop and our shareholders will have limited liquidity and trading;

●our
financial performance following a Business Combination with an entity may be negatively affected by their lack of an established
record of revenue, cash flows and experienced management;

●there
may be more competition to find an attractive target for an initial Business Combination, which could increase the costs associated with
completing our initial Business Combination and may result in our inability to find a suitable target;

●changes
in the market for directors and officers liability insurance could make it more difficult and more expensive for us to negotiate and
complete an initial Business Combination;

●we
may attempt to simultaneously complete Business Combinations with multiple prospective targets, which may hinder our ability to complete
our initial Business Combination and give rise to increased costs and risks that could negatively impact our operations and profitability;

●we
may engage one or more of our underwriters or one of their respective affiliates