Company: SIMA
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-109984
Chunk: 24

Company: SIM Acquisition Corp. I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 with this resignation, she transferred back 60,000 Founder Shares to the
Sponsor.

Warrants — As
of September 30, 2025 and December 31, 2024 there were 11,500,000 Public Warrants and 6,000,000 Private Placement Warrants outstanding.
Public Warrants may only be exercised for a whole number of shares. No fractional Public Warrants will be issued upon separation of the
Units and only whole Public Warrants will trade. The Public Warrants will become exercisable 30 days after the completion of a Business
Combination. The Company has agreed that as soon as practicable, but in no event later than 20 business days after the closing of the
Business Combination, the Company will use its commercially reasonable efforts to file with the SEC a post-effective amendment to
the registration statement for the Initial Public Offering or a new registration statement covering the registration under the Securities
Act of the Class A ordinary shares issuable upon exercise of the warrants and thereafter the Company will use its commercially
reasonable efforts to cause the same to become effective within 60 business days following the initial Business Combination
and to maintain a current prospectus relating to the Class A ordinary shares issuable upon exercise of the warrants until the expiration
of the warrants in accordance with the provisions of the public warrant agreement.

The Company may redeem the
Public Warrants:

●in
whole and not in part;

●at
a price of $0.01 per warrant;

●upon
a minimum of 30 days’ prior written notice of redemption to each warrant holder; and

●if,
and only if, the last reported sale price (the “closing price”) of the ordinary shares equals or exceeds $18.00 per share
(as adjusted) for any 20 trading days within a 30-trading day period commencing once the Warrants become exercisable and ending on the
third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.

The Company will not redeem
the Public Warrants as described above unless a registration statement under the Securities Act covering the ordinary shares issuable
upon exercise of the Public Warrants is then effective and a current prospectus relating to those ordinary shares is available throughout
the 30-day redemption period. Any such exercise would not be on a cashless basis and would require the exercising warrant holder to pay
the exercise price for each Public Warrant being