Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 483

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 483
---
ation of the Initial Public Offering, if the Company is unable to complete its Business
Combination within 24 months from the closing of the Initial Public Offering and such date is not otherwise extended by shareholders,
the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than
ten business days thereafter, redeem 100% of the outstanding public shares and (iii) as promptly as reasonably possible following such
redemption, subject to the approval of the remaining holders of ordinary shares and the Company’s board of directors, liquidate
and dissolve. The warrants will expire on liquidation of the Trust Account and the holders of warrants will receive no proceeds in connection
with the liquidation. The holders of the Founder Shares will not participate in any redemption distribution with respect to their Founder
Shares.

If
the Company is unable to complete its Business Combination and expends all of the net proceeds of the Initial Public Offering not deposited
in the Trust Account, without taking into account any interest earned on the Trust Account, the initial per-share redemption price for
ordinary shares was $10.00.  The proceeds deposited in the Trust
Account could, however, become subject to claims of the Company’s creditors that are in preference to the claims of the Company’s
shareholders. In addition, if the Company is forced to file a bankruptcy or winding up petition or an involuntary bankruptcy or winding
up petition is filed against it that is not dismissed, the proceeds held in the Trust Account could be subject to applicable bankruptcy
or insolvency law, and may be included in its bankruptcy or insolvency estate and subject to the claims of third parties with priority
over the claims of the Company’s ordinary shareholders. Therefore, the actual per-share redemption price may be less than approximately
$10.00.

F-8

Risks and Uncertainties

The United States and global markets are experiencing
volatility and disruption following the geopolitical instability resulting from the ongoing Russia-Ukraine conflict and the recent escalation
of the conflict in the Middle East. In response to the ongoing Russia-Ukraine conflict, the North Atlantic Treaty Organization (“NATO”)
deployed additional military forces to eastern Europe, and the United States, the United Kingdom, the European Union and other countries
have announced various sanctions and restrictive actions against Russia, Belarus and related individuals and entities, including the removal
of certain financial institutions from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) payment system.