Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 167

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 167
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 could reduce the dollar amount our Public Shareholders
would receive upon any redemption or our liquidation; and

●we
may seek to extend the Combination Period, which could have a material adverse effect on the amount held in our Trust Account and other
adverse effects on our Company.

For additional risks relating
to our operations, other than as set forth above, see the section titled “Risk Factors” contained in our (i) IPO Registration
Statement and (ii) 2024 First Quarter Form 10-Q. 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.

18

Item
1B. Unresolved Staff Comments.

Not applicable.

Item
1C. Cybersecurity.

Although, as a blank check
company, we do not have any operations, we are nonetheless subject to the risk of cybersecurity incidents. Among other things, the investments
in our Trust Account and bank deposits may be vulnerable to such incidents, and we may depend on the digital technologies of third parties.
We and third parties may be subject to cybersecurity attacks or security breaches. To the extent that we rely on the technologies of third
parties, we depend upon the personnel and the processes of such third parties to protect against cybersecurity incidents, and we have
no personnel or processes of our own for this purpose. In the event of a cybersecurity incident impacting us, our Management Team will
report to the Board of Directors and provide updates on the Management Team’s incident response plan for addressing and mitigating
any risks associated with such an incident. As an early stage company without significant investments in data security protection, we
may not be sufficiently protected against such occurrences. We also lack sufficient resources to adequately protect against, or to investigate
and remediate any vulnerability to, cyber incidents. It is possible that any of these occurrences, or a combination of them, could have
material adverse consequences on our business and lead to financial loss. We have not encountered any cybersecurity incidents since our
Initial Public Offering. In addition to our own cybersecurity risks, any proposed Business Combination target may have been subject to,
or may in the future be subject to, cybersecurity incidents.

Item
2. Properties.

Our executive
offices are located at 78 SW 7th Street