Company: SIMA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043361
Chunk: 20

Company: SIM Acquisition Corp. I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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from time to time by the Company’s board of directors. As of March 31, 2025 and December 31, 2024, there were no preference shares
issued or outstanding.

Class A Ordinary
Shares — The Company is authorized to issue 500,000,000 Class A ordinary shares with a par value of $0.0001
per share. At March 31, 2025 and December 31, 2024, there were no Class A ordinary shares issued or outstanding, excluding 23,000,000
Class A ordinary shares subject to possible redemption.

Class B Ordinary
Shares — The Company is authorized to issue 50,000,000 Class B ordinary shares with a par value of $0.0001
per share. Holders are entitled to one vote for each Class B ordinary share. At March 31, 2025 and December 31, 2024, there were
7,666,667 Class B ordinary shares issued and outstanding (see Note 5).

Holders of the Class A
ordinary shares and holders of the Class B ordinary shares will vote together as a single class on all matters submitted to a vote
of the Company’s shareholders, except as required by law or stock exchange rule; provided that only holders of the Class B
ordinary shares have the right to vote on the appointment of the Company’s directors prior to the initial Business Combination.

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The Class B ordinary
shares will automatically convert into Class A ordinary shares at the time of the initial Business Combination on a one-for-one basis
(as adjusted). In the case that additional Class A ordinary shares or equity-linked securities are issued or deemed issued in connection
with the initial Business Combination, the number of Class A ordinary shares issuable upon conversion of all Founder Shares will
equal, in the aggregate, 25% of the total number of Class A ordinary shares outstanding after such conversion (after giving effect
to any redemptions of Class A ordinary shares by Public Shareholders), including the total number of Class A ordinary shares
issued, or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by
the Company in connection with or in relation to the consummation of the initial Business Combination, excluding any Class A ordinary
shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued