Massimo Group (NASDAQ: MAMO) announced that it has entered into a non-binding letter of intent to acquire 100% of the equity interests of FST Development Company Limited, a technology company specializing in intelligent hardware and AI-driven system-level solutions, in a proposed transaction valued at approximately $27 million to $35 million that positions the Company at the intersection of AI-enabled outdoor mobility and next-generation digital health robotics; under the LOI, consideration may be paid in Massimo common stock, cash or a combination of both, subject to a six-month lock-up and post-acquisition performance milestones, with the parties entering a 60-day exclusivity period to complete due diligence and negotiate definitive agreements targeted for late March 2026, subject to customary closing conditions.
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About Massimo Group (NASDAQ: MAMO)
Massimo Group is a manufacturer and distributor of powersports and electric vehicles headquartered in Garland, Texas. The company’s portfolio includes UTVs, ATVs, e-bikes, and electric utility vehicles known for performance, reliability, and value.
NOTE TO INVESTORS: The latest news and updates relating to MAMO are available in the company’s newsroom at https:/ibn.fm/MAMO
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