Company: SIMA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076651
Chunk: 129

Company: SIM Acquisition Corp. I
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 4
Chunk 129
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PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

To the knowledge of our Management
Team, there is no material litigation currently pending or contemplated against us, any of our officers or directors in their capacity
as such or against any of our property.

Item 1A. Risk Factors.

As a smaller reporting company
under Rule 12b-2 of the Exchange Act, we are not required to include risk factors in this Report. For additional risks relating to our
operations, other than as set forth below, see the section titled “Risk Factors” contained in (i) our IPO Registration
Statement, (ii) our Quarterly Reports on Form 10-Q for the periods ended March 31, 2024 and 2025 and (iii) our 2024 Annual Report. Any
of these factors could result in a significant or material adverse effect on our results of operations or financial condition. Additional
risks could arise that may also affect our business or ability to consummate an initial Business Combination. We may disclose changes
to such risk factors or disclose additional risk factors from time to time in our future filings with the SEC.

There is substantial
doubt about our ability to continue as a “going concern.”

In connection with our assessment of going concern considerations under applicable accounting standards, Management has determined that
the deadline by which we may be required to liquidate our Trust Account raises substantial doubt about our ability to continue as a going
concern through approximately one year from the date the unaudited condensed financial statements included in Item 1. “Financial
Statements” of this Report were issued.

Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds. 

Unregistered Sales of Equity Securities

There were no sales of unregistered
securities during the quarterly period covered by the Report. However, simultaneously with the closing of the Initial Public Offering,
pursuant to the Private Placement Warrants Purchase Agreements, we completed the private sale of an aggregate of 6,000,000 Private Placement
Warrants to the Sponsor and Cantor, with each Private Placement Warrant exercisable to purchase one Class A Ordinary Share at $11.50
per share, at a price of $1.00 per Private Placement Warrant, or $6,000,000 in the aggregate (irrespective of the underwriters’
exercise of the over-allotment option). Of those 6,000,000 Private Placement Warrants, the Sponsor purchased 4