Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 222

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 222
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 issued or deemed issued in connection
with the initial Business Combination, the number of Class A ordinary shares issuable upon conversion of all Founder Shares will
equal, in the aggregate, 25% of the total number of Class A ordinary shares outstanding after such conversion (after giving effect
to any redemptions of Class A ordinary shares by Public Shareholders), including the total number of Class A ordinary shares
issued, or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by
the Company in connection with or in relation to the consummation of the initial Business Combination, excluding any Class A ordinary
shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, or to be issued, to any seller
in the initial Business Combination and any Private Placement Warrants issued to the Sponsor, officers or directors upon conversion of
Working Capital Loans; provided that such conversion of Founder Shares will never occur on a less than one-for-one basis.

Warrants — 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