Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 76

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 76
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 order to, among other reasons, satisfy such net tangible assets or minimum cash requirements.

Manner of Conducting Redemptions

We will provide our Public
Shareholders with the opportunity to redeem, regardless of whether they abstain, vote for, or vote against, our initial Business Combination,
all or a portion of their Public Shares upon the completion of our initial Business Combination either (i) in connection with a general
meeting called to approve the Business Combination or (ii) without a shareholder vote by means of a tender offer. The decision as to whether
we will seek shareholder approval of a proposed Business Combination or conduct a tender offer will be made by us, solely in our discretion,
and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would require
us to seek shareholder approval under applicable law or stock exchange listing requirement or whether we were deemed to be a foreign private
issuer (which would require a tender offer rather than seeking shareholder approval under SEC rules), as described above. Asset acquisitions
and share purchases would not typically require shareholder approval while direct mergers with our Company (other than with a 90% subsidiary
of ours) and any transactions where we issue more than 20% of our issued and outstanding Ordinary Shares or seek to Amended and Restated
Memorandum would require shareholder approval. So long as we obtain and maintain a listing for our securities on Nasdaq, we will be required
to comply with Nasdaq’s shareholder approval rules.

The requirement that we provide
our Public Shareholders with the opportunity to redeem their Public Shares by one of the two methods listed above are contained in provisions
of our amended and restated memorandum and articles of association and will apply whether or not we maintain our registration under the
Exchange Act or our listing on Nasdaq. Such provisions may be amended if approved by a special resolution, which requires the affirmative
vote of at least two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed,
by proxy at the applicable general meeting of the company, so long as we offer redemption in connection with such amendment.

If we provide our Public Shareholders
with the opportunity to redeem their Public Shares in connection with a general meeting, we will, pursuant to our Amended and Restated
Memorandum:

●conduct
the redemptions in conjunction with a proxy solicitation pursuant to Regulation 14A of the Exchange Act, which regulates the solicitation