SIMAU · SIM Acquisition Corp. I

At the extraordinary general meeting on May 7, 2026, SIM Acquisition Corp. I shareholders overwhelmingly approved the Extension Amendment Proposal by special resolution, extending the Combination Period from July 11, 2026 (24 months post-IPO) to July 12, 2027, or earlier as determined by the Board. This amendment, effective upon filing with the Cayman Islands Registrar on May 11, 2026, provides critical additional time to pursue a business combination amid high redemptions. Notably, 22,447,232 Public Shares were redeemed for approximately $242.2 million at $10.79 per share, leaving only 552,768 Public Shares outstanding, signaling significant shareholder exit but preserving the SPAC structure via sponsor support. Concurrently, on May 11, the Sponsor converted 3,000,000 Class B Ordinary Shares to Class A Ordinary Shares, maintaining transfer restrictions, redemption waivers, and voting obligations per the IPO Prospectus. Post-events, 3,552,768 Class A and 4,666,667 Class B shares are outstanding. The Auditor Ratification passed easily, ensuring continuity. This extension materially enhances the Company's runway for investors remaining in the vehicle, though heavy redemptions reduce public float and trust account size.