Massimo Group signs non-binding LOI to acquire AI firm FST for $27M-$35M

Massimo Group

Massimo Group (MAMO) entered LOI to acquire 100% of FST Development, an AI hardware-software company.
Purchase consideration: $27M-$35M payable in stock/cash; FST valued at $38M-$50M pre-money.
Parties target definitive agreements by late March 2026; 60-day exclusivity period for due diligence.
Strategic goal: integrate FST's AI platforms into UTV/ATV/marine lines and enter AI health robotics market.
LOI is non-binding; there is no assurance definitive agreements will be executed or deal completed.

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