Company: SIMA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043361
Chunk: 2

Company: SIM Acquisition Corp. I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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emable ordinary shares(1) 
    $0.07  
    $(0.01)

(1)For the period from January 29, 2024 (inception) to March 31,2024
excludes an aggregate of up to 1,000,000 Class B ordinary shares that are subject to forfeiture if the over-allotment option was not
exercised in full or in part by the underwriter (see Note 5). In May 2024, the Company effected a share dividend of 0.33 shares for each
Class B ordinary share outstanding, resulting in our initial shareholders holding an aggregate of 7,666,667 founder shares (up to 1,000,000
shares of which were subject to forfeiture depending on the extent to which the underwriters’ over-allotment option was exercised).
All share and per share data have been retroactively restated to reflect this change.

The accompanying notes are an integral part of the condensed financial statements.

2

SIM
ACQUISITION CORP. I

CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIT

FOR THE THREE MONTHS ENDED MARCH 31, 2025

AND FOR THE PERIOD FROM JANUARY 29, 2024 (INCEPTION) TO MARCH 31, 2024 (UNAUDITED)

    Class A Ordinary Shares  
    Class B  Ordinary Shares  
    Additional Paid-in  
    Accumulated  
    Total Shareholders’ 

    Shares  
    Amount  
    Shares  
    Amount  
     Capital  
     Deficit  
     Deficit 
  
    Balance - January 1, 2025 
     -  
    $-  
     7,666,667  
    $767  
    $-  
    $(9,879,091) 
    $(9,878,324)
  
    Accretion for Class A ordinary shares subject to redemption amount 
     -  
     -  
     -  
     -  
     -  
     (2,464,218) 
     (2,464,218)
  
    Net income 
     -  
     -  
     -  
     -  
     -  
     2,222,746  
     2,222,746