Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 974

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9A
Chunk 974
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 Placement
Warrants. Except as set forth above, the terms of such Working Capital Loans, if any, have not been determined and no written agreements
exist with respect to such Working Capital Loans. Prior to the completion of our initial Business Combination, we do not expect to seek
loans from parties other than our Sponsor or an affiliate of our Sponsor as we do not believe third parties will be willing to loan such
funds and provide a waiver against any and all rights to seek access to funds in our Trust Account.

Any of the foregoing payments
to our Sponsor, repayments of loans from our Sponsor or repayments of Working Capital Loans prior to our initial Business Combination
will be made using funds held outside the Trust Account.

We have until July 11, 2026
or until such earlier liquidation date as our Board of Directors may approve, to consummate our initial Business Combination. If we anticipate
that we may be unable to consummate our initial Business Combination within the Combination Period, we may seek shareholder approval to
amend our Amended and Restated Memorandum to extend the date by which we must consummate our initial Business Combination. If we seek
shareholder approval for such an extension, Public Shareholders will be offered an opportunity to redeem their Public Shares at a per
share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned thereon (less
taxes payable), divided by the number of then issued and outstanding Public Shares, subject to applicable law.

After our initial Business
Combination, members of our Management Team who remain with us may be paid consulting, management or other fees from the combined company
with any and all amounts being fully disclosed to our shareholders, to the extent then known, in the proxy solicitation or tender offer
materials, as applicable, furnished to our shareholders. It is unlikely the amount of such compensation will be known at the time of distribution
of such tender offer materials or at the time of a general meeting held to consider our initial Business Combination, as applicable, as
it will be up to the directors of the post-combination business to determine executive and director compensation.

Pursuant to the Registration
Rights Agreement, the holders of the (i) Founder Shares, (ii) Private Placement Warrants and (iii)  warrants that may be
issued upon conversion of Working Capital Loans (and in each case holders of their underlying securities,
as applicable) have registration rights to require us to