SIM Acquisition I signs non-binding LOI to acquire American Industrial Technologies for deSPAC combination
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SIM Acquisition I has signed a non-binding letter of intent to acquire 100% of American Industrial Technologies (AIT) as part of a proposed deSPAC business combination. The LOI was signed on April 26, 2026, and includes an initial 45-day exclusivity period for due diligence and negotiations, extendable for an additional 15 days. The LOI is non-binding except for certain provisions, and the deal is not guaranteed. AIT is known for its telecom leadership and connected-device capabilities.
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