Company: SIMA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043361
Chunk: 61

Company: SIM Acquisition Corp. I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 61
---
 Company
entered into an agreement with an affiliate of the Sponsor to pay an aggregate of $10,000 per month for office space, utilities, secretarial
and administrative support services provided to members of the Company’s management team. Upon completion of the Business Combination
or the Company’s liquidation, the Company will cease paying these monthly fees. As of March 31, 2025 and December 31, 2024, the
Company has paid $30,000 and $60,000, respectively, to the affiliate of the Sponsor.

Note 6 – SHAREHOLDERS’
deficit

Preference Shares — The
Company is authorized to issue 5,000,000 preference shares with such designations, voting and other rights and preferences as may be determined
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.

13

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