American Metals, LLC entered into a definitive agreement to acquire AI Transportation Acquisition Corp for a transaction valued at $170 million in a reverse merger transaction.

American Metals, LLC entered into a definitive agreement to acquire AI Transportation Acquisition Corp (NasdaqCM:AITR) for a transaction valued at $170 million in a reverse merger transaction on July 1, 2024. The completion of the Business Combination is subject to regulatory approvals, the approval of the transaction by the shareholders of AITR and American Metals, and the satisfaction or waiver of other customary closing conditions. Rimon Law Group, P.C. acted as legal advisor to American Metals, LLC.

Loeb & Loeb LLP acted as legal advisor to AI Transportation Acquisition. Ogier (Caymans) acted as legal advisor to AI Transportation Acquisition. ARC Group Limited acted as financial advisor to AI Transportation Acquisition.