Company: SIMA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076651
Chunk: 61

Company: SIM Acquisition Corp. I
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 holder.

11

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 Financial Industry Regulatory Authority
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 (as defined in Note 5) 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 the Company’s Amended and Restated Memorandum (A) to modify the
substance or timing of the Company’s obligation to allow redemption in connection with the Business Combination or to redeem 100%
of the public shares if the Company has not consummated a Business Combination within the Completion Window or (B) with respect to any
other material provisions relating to shareholders’ rights or pre-Business Combination activity; (iii) waive their rights to liquidating
distributions from the Trust Account