Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 579

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 579
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 purchased 4,000,000
Private Placement Warrants and Cantor purchased 2,000,000 Private Placement Warrants. Each Private Placement Warrant is exercisable
to purchase one Class A Ordinary Share at $11.50 per share. The Private Placement Warrants (and underlying securities) are identical
to the Public Warrants, except as otherwise disclosed herein. No underwriting discounts or commissions were paid with respect to the
Private Placement. The issuance of the Private Placement Warrants was made pursuant to the exemption from registration contained in
Section 4(a)(2) of the Securities Act.

    (g)
    Use of Proceeds from the Initial Public Offering

For
a description of the use of proceeds generated in our Initial Public Offering and Private Placement, see Part II, Item 2 of our 2024 First
Quarter Form 10-Q. There has been no material change in the planned use of proceeds from our Initial Public Offering and Private Placement
as described in the IPO Registration Statement. The specific investments in our Trust Account may change from time to time.

20

    (g)
    Purchases of Equity Securities by the Issuer and Affiliated Purchasers

There
were no such repurchases of our equity securities by us or an affiliate during the fourth quarter of the fiscal year covered by the Report.

Item
6. [Reserved]

Item
7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Cautionary Note Regarding Forward-Looking Statements

All
statements other than statements of historical fact included in this Report including, without limitation, statements under this Item
regarding our financial position, business strategy and the plans and objectives of Management for future operations, are forward-looking
statements. When used in this Report, words such as “anticipate,” “believe,” “estimate,” “expect,”
“intend” and similar expressions, as they relate to us or our Management, identify forward-looking statements. Such forward-looking
statements are based on the beliefs of our Management, as well as assumptions made by, and information currently available to, our Management.
Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed
in our filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf
are qualified in their entirety by this paragraph.

The
following discussion and analysis of our financial condition and results of operations should be read in conjunction with the audited
financial statements