Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 559

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 559
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1 par
value, and one-half of one redeemable warrant (the “Public Warrants”). Each whole warrant offered in the Initial Public Offering
is exercisable to purchase one ordinary share. Only whole warrants may be exercised. No fractional shares will be issued upon exercise
of the warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share, the Company
will, upon exercise, round down to the nearest whole number the number of ordinary shares to be issued to the warrant holder.

F-13

Note 4 – PRIVATE PLACEMENT

Simultaneously with the closing
of the Initial Public Offering, the Sponsor and Cantor Fitzgerald & Co. purchased an aggregate of 6,000,000 warrants at a price of
$1.00 per warrant, or $6,000,000 in the aggregate, in a private placement. Of those 6,000,000 Private Placement Warrants, the Sponsor
purchased 4,000,000 Private Placement Warrants and Cantor Fitzgerald & Co. purchased 2,000,000 Private Placement Warrants. Each whole
warrant entitles the registered holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment.

The Private Placement Warrants
are identical to the Public Warrants sold in the initial Public Offering except that, so long as they are held by the Sponsor, Cantor
Fitzgerald & Co. or their permitted transferees, the Private Placement Warrants (i) may not (including the Class A ordinary shares
issuable upon exercise of these Private Placement Warrants), subject to certain limited exceptions, be transferred, assigned or sold by
the holders until 30 days after the completion of the Business Combination, (ii) are entitled to registration rights and (iii) with respect
to the Private Placement Warrants held by Cantor Fitzgerald & Co. and/or its designees, are not exercisable more than five years from
the commencement of sales in the Initial Public Offering in accordance with FINRA Rule 5110(g)(8).

The Sponsor, officers and directors have entered
into a letter agreement with the Company, pursuant to which they have agreed to (i) waive their redemption rights with respect to their
Founder Shares and Public Shares in connection with the completion of the Business Combination; (ii) waive their redemption rights with
respect to their Founder Shares and public shares in connection with a shareholder vote to approve an amendment to