Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 75

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 75
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 the nature of our security holders (e.g., 5% security holders)
who sold to our Sponsor, Initial Shareholders, directors, officers, advisors and their affiliates; and

○the number of our securities for which we have received redemption requests pursuant to our redemption
offer.

8

Redemption Rights for Public Shareholders
upon Completion of Our Initial Business Combination

We will provide our Public
Shareholders with the opportunity to redeem all or a portion of their Public Shares, regardless of whether they abstain, vote for, or
vote against, our initial Business Combination, upon the completion of our initial Business Combination at a per-share price, payable
in cash, equal to the aggregate amount then on deposit in the Trust Account calculated as of two business days prior to the consummation
of the initial Business Combination, including interest earned on the funds held in the Trust Account (less taxes payable), divided by
the number of then outstanding Public Shares, subject to the limitations and on the conditions described herein. The amount in the Trust
Account was approximately $10.23 per Public Share, as of December 31, 2024. The per share amount we will distribute to investors who properly
redeem their Public Shares will not be reduced by the deferred underwriting commissions we will pay to the underwriters.

Our Sponsor, officers and directors
have entered into the Letter Agreement, pursuant to which they have agreed to waive their redemption rights with respect to their Founder
Shares and any Public Shares they may hold in connection with the completion of our initial Business Combination.

Our proposed initial Business
Combination may impose a minimum cash requirement for (i) cash consideration to be paid to the target or its owners, (ii) cash for working
capital or other general corporate purposes or (iii) the retention of cash to satisfy other conditions. In the event the aggregate cash
consideration we would be required to pay for all Public Shares that are validly submitted for redemption plus any amount required to
satisfy cash conditions pursuant to the terms of the proposed initial Business Combination exceed the aggregate amount of cash available
to us, we will not complete the initial Business Combination or redeem any Public Shares, and all Public Shares submitted for redemption
will be returned to the holders thereof. We may, however, raise funds through the issuance of equity-linked securities or through loans,
advances or other indebtedness in connection with our initial Business Combination, including pursuant to any forward purchase agreements
or backstop arrangements into which we may enter, in