united statessecurities and exchange commissionwashington, d.c. 20549 form 10-q indicate by check mark whether the registrant (1) has filed all reports required to be filed by section 13 or 15(d) ofthe securities exchange act of 1934 during the preceding 12 months (or for such shorter period that the registrantwas required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. yes☒no☐ indicate by check mark whether the registrant has submitted electronically every interactive data file required to besubmitted pursuant to rule 405 of regulation s-t (§232.405 of this chapter) during the preceding 12 months (or forsuch shorter period that the registrant was required to submit such files). yes☒no☐ indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,a smaller reporting company, or an emerging growth company. see the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in rule 12b-2 of the exchangeact. if an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant tosection 13(a) of the exchange act.☐ indicate by check mark whether the registrant is a shell company (as defined in rule 12b-2 of the exchange act).yes☒no☐ as of may 14, 2025, there were 23,000,000 class a ordinary shares, par value $0.0001 per share, and 7,666,667class b ordinary shares, par value $0.0001 per share, of the registrant issued and outstanding. sim acquistion corp. i form 10-q for the quarterly period ended march 31, 2025 table of contents pagepart i – financial information1item 1.financial statements.1condensed balance sheets as of march 31, 2025 (unaudited) and december 31, 20241condensed statements of operations for the three months ended march 31, 2025 and for theperiod from january 29, 2024 (inception) to march 31, 2024 (unaudited)2condensed statements of changes in shareholders’ deficit for the three months endedmarch 31, 2025 and for the period from january 29, 2024 (inception) to march 31, 20243 (unaudited)condensed statements of cash flows for the three months ended march 31, 2025 and for theperiod from january 29, 2024 (inception) to march 31, 2024 (unaudited)4notes to condensed financial statements (unaudited)5item 2.management’s discussion and analysis of financial condition and results of operations.17item 3.quantitative and qualitative disclosures about market risk.21item 4.controls and procedures.21part ii – other information22item 1.legal proceedings.22item 1a.risk factors.22item 2.unregistered sales of equity securities and use of proceeds.23item 3.defaults upon senior securities.23item 4.mine safety disclosures.23item 5.other information.23item 6.exhibits.24signatures25 unless otherwise stated in this report (as defined below), or the context otherwise requires, references to: ●“2024 annual report” are to our annual report on form 10-k for the fiscal year ended december 31,2024, as filed with the sec (as defined below) on march 31, 2025;●“2024 spac rules” are to the rules and regulations for spacs (as defined below) adopted by the secon january 24, 2024, which became effective on july 1, 2024;●“amended and restated memorandum” are to our amended and restated memorandum and articlesof association, as amended and currently in effect;●“asc” are to the fasb (as defined below) accounting standards codification;●“asu” are to the fasb accounting standards update;●“board of directors” or “board” are to our board of directors;●“business combination” are to a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses; ●“cantor” are to cantor fitzgerald & co., the representative of the underwriters in the initial publicoffering (as defined below);●“class a ordinary shares” are to our class a ordinary shares, par value $0.0001 per share;●“class b ordinary shares” are to our class b ordinary shares, par value $0.0001 per share;●“combination period” are to the 24-month period, from the closing of the initial public offering (asdefined below) to july 11, 2026 (or such earlier date as determined by the board), that we have toconsummate an initial business combination; provided that the combination period may be extendedpursuant to an amendment to the amended and restated memorandum and consistent with applicablelaws, regulations and stock exchange rules;●“company,” “our,” “we” or “us” are to sim acquisition corp. i, a cayman islands exemptedcompany;●“continental” are to continental stock transfer & trust company, trustee of our trust account (asdefined below) and warrant agent of our public warrants (as defined below);●“exchange act” are to the securities exchange act of 1934, as amended;●“fasb” are to the financia