Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 69

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 69
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 Combination.

5

Sources of Target Businesses

Target business candidates
are brought to our attention from various unaffiliated sources, including investment bankers and private investment funds. Target businesses
are also brought to our attention by such unaffiliated sources as a result of being solicited by us through calls or mailings. These sources
may also introduce us to target businesses in which they think we may be interested on an unsolicited basis, since many of these sources
will have read this Report and know what types of businesses we are targeting. Our officers and directors, as well as their affiliates,
also bring to our attention target business candidates of which they become aware through their business contacts as a result of formal
or informal inquiries or discussions they have, as well as attending trade shows or conventions. In addition, we may receive a number
of proprietary deal flow opportunities that would not otherwise necessarily be available to us as a result of the track record and business
relationships of our officers and directors. While we do not presently anticipate engaging the services of professional firms or other
individuals that specialize in business acquisitions on any formal basis, we may engage these firms or other individuals in the future,
in which event we may pay a finder’s fee, consulting fee or other compensation to be determined in an arm’s length negotiation
based on the terms of the transaction.

Prior to or in connection with
the completion of our initial Business Combination, there may be payment by the company to our Sponsor, officers or directors, or our
or their affiliates, of a finder’s fee, advisory fee, consulting fee or success fee for any services they render in order to effectuate
the completion of our initial Business Combination, which, if made prior to the completion of our initial Business Combination, will be
paid from funds held outside the Trust Account.

We will engage a finder only
to the extent our Management determines that the use of a finder may bring opportunities to us that may not otherwise be available to
us or if finders approach us on an unsolicited basis with a potential transaction that our Management determines is in our best interest
to pursue. Payment of a finder’s fee is customarily tied to completion of a transaction, in which case any such fee will be paid
out of the funds held in the Trust Account.

Evaluation of a Target Business and Structuring
of Our Initial Business Combination

In evaluating a prospective
target business, we conduct a due diligence review that encompasses, among other things, meetings with incumbent management and employees,
document reviews, interviews