Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 78

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 78
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 structured as a statutory merger or consolidation with another company under Cayman Islands law, the approval
of our initial Business Combination will require a special resolution, which requires the affirmative vote of at least two-thirds of the
votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable
general meeting of the company.

In addition, prior to the closing
of our initial Business Combination, only holders of our Class B Ordinary Shares (i) have the right to appoint and remove directors prior
to or in connection with the completion of our initial Business Combination and (ii) are entitled to vote on continuing our Company in
a jurisdiction outside the Cayman Islands (including any special resolution required to amend our Amended and Restated Memorandum or to
adopt new constitutional documents, in each case, as a result of our approving a transfer by way of continuation in a jurisdiction outside
the Cayman Islands). These quorum and voting thresholds, and the voting agreement of our Sponsor, officers and directors pursuant to the
Letter Agreement, may make it more likely that we will consummate our initial Business Combination.

Each Public Shareholder may
elect to redeem their Public Shares irrespective of whether they vote for or vote against the proposed transaction, or whether they do
not vote or abstain from voting on the proposed transaction, or whether they were a Public Shareholder on the record date for the general
meeting held to approve the proposed transaction.

If a shareholder vote is not
required and we do not decide to hold a shareholder vote for business or other legal reasons, we will:

●conduct
the redemptions pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, which regulate issuer tender offers, and

●file
tender offer documents with the SEC prior to completing our initial Business Combination, which contain substantially the same financial
and other information about the initial Business Combination and the redemption rights as is required under Regulation 14A of the Exchange
Act, which regulates the solicitation of proxies.

In the event we conduct redemptions
pursuant to the tender offer rules, our offer to redeem will remain open for at least 20 business days, in accordance with Rule 14e-1(a)
under the Exchange Act, and we will not be permitted to complete our initial Business Combination until the expiration of the tender offer
period. In addition, the tender offer will be conditioned on Public Shareholders not tendering more than the