Company: SIMA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043361
Chunk: 0

Company: SIM Acquisition Corp. I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
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Item 1. Financial Statements.

SIM ACQUISITION CORP. I

CONDENSED
BALANCE SHEETS

    March 31,
 2025  
    December 31,
 2024 

    (UNAUDITED)  

    ASSETS 

    Current Assets 

    Cash 
    $511,697  
    $697,085 
  
    Prepaid Expenses 
     78,600  
     127,200 
  
    Total Current Assets 
     590,297  
     824,285 
  
    Long-term prepaid Expense 
     180,000  
     180,000 
  
    Cash and Marketable Securities Held in Trust Account 
     237,787,030  
     235,322,812 
  
    Total Assets 
    $238,557,327  
    $236,327,097 
  
    LIABILITIES, CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION, AND SHAREHOLDERS’ DEFICIT 

    Current liabilities 

    Accounts payable and accrued expenses 
    $40,093  
    $32,609 
  
    Total Current Liabilities 
     40,093  
     32,609 

    Long term liabilities 

    Deferred underwriting payable 
     10,950,000  
     10,950,000 
  
    Total Long Term Liabilities 
     10,950,000  
     10,950,000 
  
    Total Liabilities 
     10,990,093  
     10,982,609 

    COMMITMENTS 

    Class A ordinary shares subject to possible redemption, 23,000,000 shares at redemption value of $10.33 and $10.11 per share as of March 31, 2025 and December 31, 2024, respectively 
     237,687,030  
     235,222,812 

    Shareholders’ Deficit 

    Preference shares, $.0001 par value, 5,000,000 shares authorized; none issued or outstanding as of March 31, 2025 and December 31, 2024 
     -  
     - 
  
    Class A ordinary shares, $.0001 par value, 500,000,000 shares authorized; none issued or outstanding (Excluding 23,000,000 Class A