SIM Acquisition Corp. I Announces Letter of Intent for deSPAC Business Combination with American Industrial Technologies

Key Highlights

• SIM Acquisition Corp. I (Nasdaq: SIMA) has entered into a non-binding Letter of Intent (LOI) with American Industrial Technologies, Inc. (AIT) for a potential deSPAC business combination.
• AIT operates Q1, a 33-year leader in telecommunications, and has developed into a fully integrated platform covering manufacturing, logistics, distribution, and connected device ecosystems.
• AIT boasts extensive relationships with both Tier 1 and Tier 2 carriers, and has built substantial Third-Party Logistics (3PL), Fourth-Party Logistics (4PL), and e-commerce infrastructure to support global distribution across the United States, Europe, and Latin America.
• The next phase of AIT’s growth will focus on new verticals, particularly in drones and secure, encrypted devices tailored for law enforcement, government, and enterprise agencies.
• The LOI grants a 45-day exclusivity period for due diligence and the negotiation of a definitive agreement.

Details of the Proposed Transaction

SIM Acquisition Corp. I, a special purpose acquisition company (SPAC), has announced it has signed a non-binding LOI with American Industrial Technologies, Inc. (AIT) for a business combination that will see AIT become a publicly traded company, subject to the execution of definitive agreements and completion of due diligence.

AIT, headquartered in Nevada, has evolved from a telecommunications services leader into a diversified, integrated platform, providing manufacturing, logistics, distribution, and connected device solutions. Its core business, Q1, has been a major player in telecom for over three decades and is now leveraging its established relationships and infrastructure to drive growth in new, high-value sectors.

According to John Chiorando, CEO and Founder of AIT, the company is “at the center of bringing manufacturing back to the United States while simultaneously expanding our footprint across Europe and Latin America.” He emphasized the company’s focus on developing new verticals, especially those related to drones and secure, encrypted devices for law enforcement and government agencies. Chiorando believes that partnering with SIM will accelerate AIT’s entry into these markets.

Anthony Hayes, Chairman of SIM, stated, “AIT’s evolution into a fully integrated provider of hardware, logistics, and secure connectivity solutions creates a unique value proposition in today’s market. Their established carrier relationships, combined with new investments in U.S.-based production and advanced technologies, position the business at the intersection of several critical industry shifts. We are pleased to take this important step towards a potential business combination.”

Shareholder Considerations and Potential Price Sensitivity

• Non-Binding LOI: The signed LOI is non-binding, meaning there is no guarantee that a final agreement will be reached or that the transaction will be completed. Shareholders should note that the deal is subject to definitive agreements, due diligence, regulatory and shareholder approvals, and customary closing conditions.
• Exclusivity Period: SIM and AIT have agreed to a 45-day exclusivity period to complete due diligence and negotiate final terms. Any further updates or changes during this period could significantly impact share value.
• Strategic Expansion: AIT’s move into secure devices for high-security sectors (law enforcement, government, enterprise) and the drone vertical could represent substantial new revenue streams, which are likely to be viewed positively by investors if the deal proceeds.
• SPAC-Related Risks: As with any SPAC transaction, there is inherent risk and uncertainty. The press release notes that there is no obligation to update forward-looking statements, and investors should be aware that the transaction may not materialize or may occur on different terms.

About the Companies

SIM Acquisition Corp. I

SIM Acquisition Corp. I is a blank check company created to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more businesses. The board includes Anthony Hayes, David Kutcher, Kyle Haug, Matthew Saker, and Jarrett Gorlin.

American Industrial Technologies, Inc. (AIT)

AIT operates as an integrated platform in telecommunications and logistics, with a notable legacy in telecom manufacturing and distribution. The company’s new focus areas include advanced technologies such as drones and secure communication devices for government and enterprise customers.

Forward-Looking Statements and Risks

The press release contains forward-looking statements regarding the proposed business combination. These statements are subject to risks, including the possibility that no definitive agreement will be reached, that the transaction may not be completed, or that it may occur on different terms. Investors are urged to review SIM’s filings with the SEC for detailed risk factors.

The information in the press release is current only as of the date of the release. There is no obligation to update any forward-looking statements unless required by law.

No Offer or Solicitation

This announcement does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor a solicitation of any proxy, consent, or authorization in connection with the potential business combination.

Contact Information

For more information, visit SIM Acquisition Corp. I or contact [email protected].

Disclaimer: This article is for informational purposes only and does not constitute investment advice or an offer to buy or sell any securities. Investors should review all relevant filings with the SEC and consult their financial advisors before making investment decisions. The proposed transaction is subject to numerous conditions and risks, and there can be no assurance that it will be completed as described.

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