Company: SIMA
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-109984
Chunk: 5

Company: SIM Acquisition Corp. I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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, resulting in our initial shareholders holding an aggregate of 7,666,667 founder shares (up to 1,000,000 shares of
which were subject to forfeiture depending on the extent to which the underwriters’ over-allotment option was exercised). All share
and per share data have been retroactively restated to reflect this change.

The accompanying notes are an integral part
of the condensed financial statements. 

3

SIM ACQUISITION CORP. I

CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)

    For the nine
 months ended
 September 30, 
2025  
    For the period
 from
 January 29,
 2024
 (inception) to
 September 30, 
2024 
  
    Cash Flows from Operating Activities 

    Net income 
    $6,772,463  
    $2,315,965 
  
    Adjustments to reconcile net income to net cash used in operating activities 

    Interest earned on cash and marketable securities held in Trust Account 
     (7,453,481) 
     (2,627,463)
  
    Formation Costs paid by Sponsor in exchange for issuance of Class B ordinary shares 
     -  
     6,364 
  
    Change in deferred operating costs 
     -  
     - 
  
    Changes in operating assets and liabilities 

    Increase in cash attributable to Prepaid Expense 
     142,200  
     (385,300)
  
    Increase in cash attributable to Accounts Payable and Accrued Expenses 
     10,878  
     9,500 
  
    Net cash used in operating activities 
     (527,940) 
     (680,934)
  
    Cash Flows from Investing Activities 

    Investment of Cash in Trust Account 
     -  
     (230,000,000)
  
    Net cash used in investing activities 
     -  
     (230,000,000)
  
    Cash Flows from Financing Activities 

    Promissory note - related party 
     -  
     260,000 
  
    Proceeds from sale of units 23,000,000, net of underwriting discounts paid 
     -  
     226,000,000 
  
    Proceeds from sale of Private Placement at gross amount 
     -