Company: SIMA
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-109984
Chunk: 58

Company: SIM Acquisition Corp. I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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 of the effect of a condition, situation
or set of circumstances that existed at the date of the condensed financial statements, which management considered in formulating its
estimate, could change in the near term due to one or more future confirming events. Actual results could differ from those estimates.

9

Net Income (Loss) Per Ordinary Share

The Company complies with
the accounting and disclosure requirements of FASB ASC 260, “Earnings Per Share.” The Company has two classes of shares, which
are referred to as Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata between the two
classes of shares. Net income (loss) per ordinary share is calculated by dividing the net income (loss) by the weighted average number
of ordinary shares outstanding for the respective period. Diluted net income (loss) per share attributable to ordinary shareholders adjusts
the basic net income (loss) per share attributable to ordinary shareholders and the weighted average number of ordinary shares outstanding
for the potentially dilutive impact of outstanding warrants. However, because the warrants are anti-dilutive, diluted income (loss) per
ordinary share is the same as basic income (loss) per ordinary share for the periods presented.

With respect to the accretion
of Class A ordinary shares subject to possible redemption and consistent with FASB ASC Topic 480-10-S99-3A, the Company treated accretion
in the same manner as a dividend, paid to the shareholders in the calculation of the net income (loss) per ordinary share.

The following table reflects
the calculation of basic and diluted net income per ordinary share:

    For the three months ended 
September 30, 2025  
    For the nine months ended 
September 30, 2025 

    Class A 
Redeemable  
    Class B 
Non-Redeemable  
    Class A 
Redeemable  
    Class B 
Non-Redeemable 
  
    Basic and Diluted net income per share: 

    Numerator: 

    Allocation of net income  
    $1,689,124  
    $563,041  
    $5,079,347  
    $1,693,116 

    Denominator: 

    Weighted-average shares outstanding 
     23,000,000  
     7,666,667  
     23,000,000