Company: SIMA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076651
Chunk: 52

Company: SIM Acquisition Corp. I
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 52
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 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
of the Trust Account and the holders of warrants will receive no proceeds in connection with the liquidation. The holders of the Founder
Shares will not participate in any redemption distribution with respect to their Founder Shares.

If the Company is unable to
complete its Business Combination and expends all of the net proceeds of the Initial Public Offering not deposited in the Trust Account,
without taking into account any interest earned on the Trust Account, the initial per-share redemption price for ordinary shares was $10.00.
The proceeds deposited in the Trust Account could, however, become subject to claims of the Company’s creditors that are in preference
to the claims of the Company’s shareholders. In addition, if the Company is forced to file a bankruptcy or winding up petition or
an involuntary bankruptcy or winding up petition is filed against it that is not dismissed, the proceeds held in the Trust Account could
be subject to applicable bankruptcy or insolvency law, and may be included in its bankruptcy or insolvency estate and subject to the claims
of third parties with priority over the claims of the Company’s ordinary shareholders. Therefore, the actual per-share redemption
price may be less than approximately $10.00.

6

Risks and Uncertainties

The Company’s results
of operations and its ability to complete an initial Business Combination may be adversely affected by various factors that could cause
economic uncertainty and volatility in the financial markets, many of which are beyond the Company’s control. The Company’s
results of operations and its ability to consummate an initial Business Combination could be impacted by, among other things, downturns
in the financial markets or in economic conditions, increases in oil prices, inflation, fluctuations in interest rates