<SEC-DOCUMENT>0001213900-24-048074.txt : 20240806
<SEC-HEADER>0001213900-24-048074.hdr.sgml : 20240806
<ACCEPTANCE-DATETIME>20240530180143
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-24-048074
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240530

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIM Acquisition Corp. I
		CENTRAL INDEX KEY:			0002014982
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		78 SW 7TH STREET, SUITE 500
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33130
		BUSINESS PHONE:		2039402657

	MAIL ADDRESS:	
		STREET 1:		78 SW 7TH STREET, SUITE 500
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33130
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<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I><U>VIA EDGAR</U></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">May 30, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Office of Real Estate &amp; Construction</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 0.75in; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pearlyne Paulemon</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Isabel Rivera</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 0.5in"><B>&nbsp;</B></TD>
    <TD STYLE="text-align: left; width: 0.25in"><B>Re:</B></TD>
    <TD STYLE="text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><B>SIM Acquisition Corp. I</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><B>Draft Registration Statement on Form S-1</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><B>Submitted April 19, 2024</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><B>CIK No. 0002014982</B></P></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 44.75pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Ms. Paulemon and Ms. Rivera:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SIM Acquisition Corp. I (the
&ldquo;<B>Company</B>,&rdquo; &ldquo;<B>we</B>,&rdquo; &ldquo;<B>our</B>&rdquo; or &ldquo;<B>us</B>&rdquo;) hereby transmits its response
to the comment letter received from the staff (the &ldquo;<B>Staff</B>&rdquo;, &ldquo;<B>you</B>&rdquo; or &ldquo;<B>your</B>&rdquo;)
of the U.S. Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;), dated May 16, 2024, regarding the Draft Registration
Statement on Form S-1 submitted to the Commission on April 19, 2024.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the Staff&rsquo;s convenience,
we have repeated below the Staff&rsquo;s comment in bold, and have followed each comment with the Company&rsquo;s response. Disclosure
changes have been made in the amended Draft Registration Statement on Form S-1 (the &ldquo;<B>Draft Registration Statement</B>&rdquo;),
which is being filed with the Commission contemporaneously with the submission of this letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Draft Registration Statement on Form S-1
submitted April 19, 2024</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Summary</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Competitive Differentiation, page 3</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in">1.</TD><TD STYLE="text-align: justify"><B>Please disclose the current trading prices of any special purpose acquisition company business combinations
your management has participated in, including One Group Hospitality, Inc., Spectral AI, Inc., and Immunome, Inc</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In response to the Staff&rsquo;s comment,
we have revised the disclosures on pages 3 and 103 of the Draft Registration Statement. We respectfully inform the Staff that we
will add the current trading prices when we publicly file the Form S-1. We respectfully advise the Staff that we have not included the current trading price of Immunome, Inc. as it did not become a public company
through a business combination transaction with a special purpose acquisition company.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>The Offering</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Proceeds to be held in trust account, page
20</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <TD STYLE="width: 0.25in; text-align: justify; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 0.25in; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.</B></FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>We note your disclosure that the trust account funds may not be released until the completion of the initial business combination &ldquo;or earlier in connection with the commencement of procedures to consummate the initial business combination if we determine it is desirable to facilitate the completion of the initial business combination.&rdquo; Nasdaq Listing Rule IM-5101-2 states that &ldquo;[a]t least 90% of the gross proceeds . . . must be deposited in a trust account maintained by an independent trustee.&rdquo; It is unclear how the release of funds earlier than the consummation of the initial business combination would comport with this listing standard. Please revise your disclosure for consistency with the Nasdaq listing rules.</B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In response to the Staff&rsquo;s comment,
we have deleted the disclosures on pages 15, 21, 27, 32, 36, 113, 136, 146, and 148 of the Draft Registration Statement indicating that
the funds in the trust account may be released prior to the consummation of the initial business combination.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Risk Factors</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Risks Relating to our Search for, and Consummation
of or Inability to Consummate, a Business Combination</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>We may not be able to complete an initial
business combination because such initial business combination may be subject . . ., page 61</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Please state whether your sponsor is, is controlled by, or has substantial ties with a non- U.S. person.
If so, please address how this fact could impact your ability to complete your initial business combination.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">We respectfully inform the Staff that
our sponsor is a limited liability company incorporated in the state of Delaware and is not controlled by, and does not have substantial
ties with, a non-U.S. person, and that we have revised the indicated disclosure to reflect this.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Effecting Our Initial Business Combination</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Permitted Purchases of Our Securities, page
109</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><B>4.</B></TD><TD STYLE="text-align: justify"><B>We note your disclosure that your sponsor, officers, and directors have agreed to vote any public shares
purchased during or after the initial public offering in favor of your initial business combination, and that such purchases may be at
a price different from the price a public shareholder would receive if it elected to redeem its shares. Please tell us how such purchases
will comply with the requirements of Rule 14e-5 under the Exchange Act. Refer to Tender Offer Rules and Schedules Compliance and Disclosure
Interpretation 166.01 for guidance.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">We acknowledge the Staff&rsquo;s comment
and respectfully advise the Staff that we have revised the disclosures on pages 45 and 112 of the Draft Registration Statement to clarify
that the purchase price per share paid by any of our sponsor, directors, officers and their affiliates will not exceed the amount per
share a public shareholder would receive if it elected to redeem its shares. As such, agreements with such potential purchasers will only
be made in compliance with the Staff&rsquo;s interpretive guidance with respect to the application of Rule 14e-5 and other tender offer
rules during the redemption offer period in the manner described on pages 45, 46, 112 and 113.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Principal Shareholders, page 134</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><B>5.</B></TD><TD STYLE="text-align: justify"><B>Please revise your beneficial ownership table to clarify the text to which each of the four footnotes
beneath the table corresponds.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In response to the Staff&rsquo;s comment,
we have revised the disclosure on page 138 of the Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>General</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><B>6.</B></TD><TD STYLE="text-align: justify"><B>We note disclosure on pages F-7 and F-8 that, if the company executes a business combination agreement
within 24 months from the closing of the initial public offering, the company will have until 27 months from the closing to complete the
initial business combination. Please reconcile this statement with disclosure throughout your prospectus that if you have not completed
an initial business combination within 24 months from the closing of the offering, you will redeem 100% of the public shares.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In response to the Staff&rsquo;s comment,
we have deleted the references to 27 months on pages F-7 and F-8 of the Draft Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We thank the Staff in advance
for its consideration of the foregoing. Should you have any questions, please do not hesitate to contact our legal counsel, Stuart Neuhauser,
Esq. and Joshua N. Englard, Esq., of Ellenoff Grossman &amp; Schole LLP, at (212) 370-1300.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 35%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify"><FONT STYLE="font-size: 10pt"><I>/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif">David Kutcher</FONT></I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David Kutcher</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">cc:</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Stuart Neuhauser, Esq.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Joshua N. Englard, Esq.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">3</P>

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