Company: SIMA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076651
Chunk: 8

Company: SIM Acquisition Corp. I
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 (“Public Shares”) in the Initial Public Offering (“Public Shareholders”)
with the opportunity to redeem their Public Shares for a pro rata share of the Trust Account. The holders of the Founder Shares (as defined
in Note 5) will agree to vote any shares they then hold in favor of any proposed Business Combination and will waive any conversion rights
with respect to these shares and the shares included in the Private Units pursuant to letter agreements executed in connection with the
Initial Public Offering.

In connection with any proposed
Business Combination, the Company will seek shareholder approval of a Business Combination at a meeting called for such purpose at which
Public Shareholders may seek to redeem their Public Shares, regardless of whether they vote for or against the proposed Business Combination.
Alternatively, the Company may conduct a tender offer and allow redemptions in connection therewith. If the Company seeks shareholder
approval of a Business Combination, any Public Shareholder voting either for or against such proposed Business Combination or not voting
at all will be entitled to demand that his Public Shares be redeemed for a full pro rata portion of the amount then in the Trust Account
(initially $10.00 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the
Company or necessary to pay its taxes and trust administration expenses). Holders of warrants sold as part of the Units will not be entitled
to vote on the proposed Business Combination and will have no redemption or liquidation rights with respect to the ordinary shares underlying
such warrants.

Pursuant to the Company’s
Memorandum and Articles of Association in effect upon consummation of the Initial Public Offering, if the Company is unable to complete
its Business Combination within 24 months from the closing of the Initial Public Offering and such date is not otherwise extended by shareholders,
the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than
ten business days thereafter, redeem 100% of the outstanding public shares at a per share price, payable in cash, equal to the aggregate
amount then on deposit in the trust account, including interest earned thereon (less taxes payable and up to $100,000 of interest income
to pay dissolution expenses) and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining
holders of ordinary shares and the Company’s board of directors, liquidate and dissolve. The warrants will expire on liquidation