Company Will No Longer Pursue Previously Contemplated Stock-Based Acquisition Structure and Will Focus on Advanced Security Technologies, Autonomous Patrol Platforms and AI-Enabled Security Solutions GARLAND, Texas, June 24, 2026 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo" or the "Company"), a manufacturer and distributor of powersports vehicles, UTVs, ATVs and innovative mobility solutions, today announced that it has terminated its previously announced proposed acquisition of FST Development Company Limited ("FST"), originally disclosed on February 3, 2026. Under the previously contemplated transaction structure, a portion or all of the acquisition consideration could have been satisfied through the issuance of Company shares.

