Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 683

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 683
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 the Initial Public Offering
of 23,000,000 units (each, a “Unit” and collectively, the “Units”) at $10.00 per Unit, which included the
full exercise of the underwriters’ over-allotment option in the amount of 3,000,000 Units at $10.00 per unit which is discussed
in Note 3 (the “Initial Public Offering”), and the sale of 6,000,000 warrants (the “Private Placement Warrants”,
to the Sponsor and Cantor Fitzgerald & Co., the representative of the underwriters of the Initial Public Offering, at a price of $1.00
per Private Placement Warrant in a private placement that closed simultaneously with the Initial Public Offering. 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 Private Placement Warrant entitles the holder to purchase one Class A ordinary share at $11.50 per
share.

Transaction costs amounted to $15,427,616 consisting
of $4,000,000 of cash underwriting fee, $10,950,000 of deferred underwriting fee, and $477,616 of other offering costs.

The Trust Account

Upon consummation of the Initial Public Offering,
management placed an aggregate of $230,000,000 of the proceeds from the Units sold in the Initial Public Offering and the proceeds of
the private placement of the Private Placement Warrants, in a United States-based trust account (the “Trust Account”) and
invested the proceeds in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act. The proceeds
will be held in this manner until the earlier of (i) the consummation of the Company’s Business Combination (ii) the redemption
of any ordinary shares included in the Units being sold in the Initial Public Offering that have been properly tendered in connection
with a shareholder vote to amend the Company’s Amended and Restated Memorandum to modify the substance or timing of its obligation
to redeem 100% of such ordinary shares if it does not complete the Business Combination within 24 months from the closing of the Initial
Public Offering (the “Completion Window”); and (iii) the Company’s failure to consummate a Business Combination within
the prescribed time