SIMAU · SIM Acquisition Corp. I

This LOI represents a material step toward a deSPAC business combination between SIM Acquisition Corp. I — a Nasdaq-listed blank check company formed solely to effect a merger or acquisition — and American Industrial Technologies, Inc., a vertically integrated industrial technology firm with deep roots in telecommunications. The strategic rationale centers on AIT’s evolution from a telecom hardware provider into a full-stack platform encompassing manufacturing, logistics, distribution, and connected-device ecosystems — supported by long-standing relationships with Tier 1 and Tier 2 carriers and a scalable 3PL/4PL and e-commerce infrastructure spanning the U.S., Europe, and Latin America. Management commentary in Exhibit 99.1 highlights AIT’s intent to expand into high-assurance verticals including drones and secure, encrypted devices for law enforcement, government, and enterprise agencies — suggesting potential for margin expansion and federal contracting exposure. For SIMA, the transaction would fulfill its sole corporate purpose and transition it from a shell entity to an operating company with established revenue channels, geographic diversification, and tangible infrastructure assets. However, the LOI remains expressly non-binding except for narrow provisions, and the path forward requires successful negotiation of definitive agreements, satisfactory due diligence outcomes, regulatory and shareholder approvals, and satisfaction of customary closing conditions — all of which introduce meaningful execution risk. Investors should note the absence of disclosed financial terms, valuation metrics, or projected timelines for closing, underscoring the preliminary nature of this announcement.