Company: SIMA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043361
Chunk: 58

Company: SIM Acquisition Corp. I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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 Private Placement Warrants (i) may not (including the
Class A ordinary shares issuable upon exercise of these Private Placement Warrants), subject to certain limited exceptions, be transferred,
assigned or sold by the holders until 30 days after the completion of the Business Combination, (ii) are entitled to registration rights
and (iii) with respect to the Private Placement Warrants held by Cantor Fitzgerald & Co. and/or its designees, are not exercisable
more than five years from the commencement of sales in the Initial Public Offering in accordance with Financial Industry Regulatory Authority
Rule 5110(g)(8). The Sponsor, officers and directors have entered into a letter agreement with the Company, pursuant to which they have
agreed to (i) waive their redemption rights with respect to their Founder Shares (as defined in Note 5) and Public Shares in connection
with the completion of the Business Combination; (ii) waive their redemption rights with respect to their founder shares and public shares
in connection with a shareholder vote to approve an amendment to the Company’s Amended and Restated Memorandum (A) to modify the
substance or timing of the Company’s obligation to allow redemption in connection with the Business Combination or to redeem 100%
of the public shares if the Company has not consummated a Business Combination within the Completion Window or (B) with respect to any
other material provisions relating to shareholders’ rights or pre-Business Combination activity; (iii) waive their rights to liquidating
distributions from the Trust Account with respect to their founder shares if the Company fails to complete the Business Combination within
the Completion Window, although they will be entitled to liquidating distributions from the Trust Account with respect to any public shares
they hold if the Company fails to complete the Business Combination within the Completion Window and to liquidating distributions from
assets outside the Trust Account; and (iv) vote any founder shares held by them and any public shares purchased during or after the Initial
Public Offering (including in open market and privately negotiated transactions) in favor of the Business Combination (except that any
public shares such parties may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act would not be voted in
favor of approving the business combination transaction).

Note 5 – RELATED PARTY TRANSACTIONS

Founder Shares

 On January 29, 2024, the Sponsor
paid $25,000, or approximately $0.003 per share, to cover certain costs in consideration for