Company: SIMA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076651
Chunk: 68

Company: SIM Acquisition Corp. I
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 to fully exercise the over-allotment option to purchase the additional 3,000,000 Units at a
price of $10.00 per Unit. As a result of the underwriters’ election to fully exercise their over-allotment option, an aggregate
of 1,000,000 Founder Shares are no longer subject to forfeiture.

The underwriters received
an underwriting discount of $0.20 per unit (excluding those units sold as part of the underwriters’ over-allotment option), or $4.0 million
in the aggregate, paid upon the closing of the Initial Public Offering. The underwriters agreed to defer underwriting commissions equal
to $0.45 per Unit on Units other than those sold pursuant to the underwriters’ option to purchase additional Units and $0.65 per
Unit on units sold pursuant to the underwriters’ option to purchase additional units, or $10,950,000 in the aggregate. Upon completion
of the Business Combination, $10,950,000 will be paid to the underwriters from the funds held in the Trust Account. The deferred fee will
become payable to the underwriters from the amounts held in the Trust Account solely in the event that the Company completes a Business
Combination, subject to the terms of the underwriting agreement.

Note 8 – Fair
Value Measurements

At issuance, the fair value
of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received
in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between
market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks
to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs
(internal assumptions about how market participants would price assets and liabilities).

The following table presents
information about the Company’s assets that are measured at fair value on a recurring basis at June 30, 2025:

    June 30, 2025  
    Quoted Prices Active Markets (Level 1)  
    Significant Other Observable Inputs (Level 2)  
    Significant Other Unobservable Inputs (Level 3) 
  
    Assets: 

    Marketable Securities Held in Trust Account 
    $240,266,117  
    $240,266,117  
    $  —  
    $