SIM Acquisition Corp. I Announces Letter of Intent with AIT for deSPAC Business Combination (Form 8-K)

SIM Acquisition Corp. I Announces Letter of Intent with AIT for deSPAC Business Combination

NEW YORK, April 28, 2026 - SIM Acquisition Corp. I (Nasdaq: SIMA) ("SIM") today announced the execution of a non-binding letter of intent ("LOI") with American Industrial Technologies, Inc. ("AIT"), a Nevada corporation, for a proposed deSPAC business combination.

Among other segments, AIT will operate Q1, which is a 33-year leader in telecommunications that has evolved into a fully integrated platform spanning manufacturing, logistics, distribution, and connected device ecosystems. Building on its deep relationships with Tier 1 and Tier 2 carriers, AIT has scaled a robust Third-Party Logistics and Fourth-Party Logistics and e-commerce infrastructure that supports global distribution across the United States, Europe, and Latin America. For more information about AIT, visit www.weareAIT.com

"After more than three decades in telecom, we're proud to be at the center of bringing manufacturing back to the United States while simultaneously expanding our footprint across Europe and Latin America," said John Chiorando, CEO and Founder of AIT. "Our next chapter is about developing new verticals around drones and secure, encrypted devices built for law enforcement, government, and enterprise agencies. We believe that partnering with SIM will help AIT accelerate its move into these new channels."

Anthony Hayes, Chairman of SIM stated, "We believe 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."

Non-Binding Letter of Intent

The LOI is non-binding and subject to the execution of definitive agreements, completion of due diligence, required approvals, and customary closing conditions. There can be no assurance that a transaction will be completed.

Exclusivity

The parties have agreed to an initial 45-day exclusivity period to undertake due diligence and negotiate a definitive Business Combination Agreement.

About SIM Acquisition Corp I

SIM Acquisition Corp. I is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Its board of directors is comprised of Anthony Hayes, David Kutcher, Kyle Haug, Matthew Saker and Jarrett Gorlin.