SIM Acquisition Corp I

For the period ended Sep 30, 2024. Filed Nov 14, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 14, 2024

SIMA$10.97+0.6%Stored close · as of Nov 5, 2026

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Contents

Condensed Balance Sheet as of September 30, 2024 (Unaudited)

CONDENSED BALANCE SHEETS

ASSETS
Current Assets
Cash	$860,086
Prepaid Expense	205,300
Total Current Assets	1,065,386
Long-Term Prepaid Expense	180,000
Cash and Marketable Securities Held in Trust Account	232,627,463
Total Assets	$233,872,849
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities
Accounts payable and accrued expenses	$9,500
Total Current Liabilities	9,500
Long term liabilities
Deferred Underwriting Payable	10,950,000
Total Long Term Liabilities	10,950,000
Total Liabilities	$10,959,500
COMMITMENTS
Class A ordinary shares subject to possible redemption, 23,000,000 shares at redemption value of $10.11 per share	$232,527,463
Shareholders’ Deficit
Preference shares, $.0001 par value, 5,000,000 shares authorized; none issued or outstanding	-
Class A ordinary shares, $.0001 par value, 500,000,000 shares authorized; none issued or outstanding (Excluding 23,000,000 Class A Ordinary shares subject to possible redemption)	-
Class B ordinary shares, $.0001 par value, 50,000,000 shares authorized; 7,666,667 shares issued and outstanding	767
Accumulated Deficit	(9,614,881)
Total Shareholders’ Deficit	(9,614,114)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT	$233,872,849

CONDENSED STATEMENT OF OPERATIONS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2024

AND

PERIOD FROM JANUARY 29, 2024 (INCEPTION) TO SEPTEMBER 30, 2024

	Three Months Ended September 30, 2024	January 29, 2024 (inception) to September 30, 2024
Formation and operation costs	$(270,193)	$(311,498)
Loss from Operations	$(270,193)	$(311,498)
Other income
Interest earned on marketable securities held in Trust Account	$2,627,463	$2,627,463
Other income (loss), net	$2,627,463	$2,627,463
Net income	$2,357,270	$2,315,965
Weighted average shares outstanding, Class A ordinary shares subject to possible redemption	20,500,000	7,666,667
Basic and diluted net income per ordinary share Class A, ordinary shares subject to possible redemption	$0.08	$0.16
Weighted average shares outstanding, Class B non-redeemable ordinary shares	7,557,971	7,000,000
Basic and diluted net income per share, Class B non-redeemable ordinary shares	$0.08	$0.16

CONDENSED STATEMENT OF CHANGES IN SHAREHOLDER’S EQUITY (DEFICIT)

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2024

AND

PERIOD FROM JANUARY 29, 2024 (INCEPTION) TO SEPTEMBER 30, 2024

Class A Ordinary Shares · Class B Ordinary Shares · Additional Paid-in · Accumulated · Total Shareholder’s
Shares · Amount · Shares · Amount · Capital · Deficit · Deficit
Balance - January 29, 2024 (inception) · $ · - · - · $ · - · $ · - · $ · - · $ · -
Issuance of Class B Ordinary Shares to Sponsor (1)			7,666,667	767		24,233	-	25,000
Net Loss							(41,305)	(41,305)
Balance - June 30, 2024	-	-	7,666,667	$767		$24,233	$(41,305)	$(16,305)
Sale of 6,000,000 Private Placement Warrants						6,000,000		6,000,000
Fair Value of Public Warrants at issuance						1,610,000		1,610,000
Allocated value of transaction costs to Class A Shares subject to redemption amount						(120,051)		(120,051)
Accretion for Class A ordinary shares subject to redemption amount						(7,514,182)	(11,930,846)	(19,445,028)
Net Income		-	-	-			2,357,270	2,357,270
Balance - September 30, 2024	-	-	7,666,667	$767	$	-	$(9,614,881)	$(9,614,114)

(1)	includes 750,000 shares subject to forfeiture if the underwriters' over-allotment option is not exercised

ContentsView on SEC.gov

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