On April 1, 2024, Massimo Group entered into an underwriting agreement with Craft Capital Management, LLC, acting as representative of the underwriters. On April 1, 2024, in connection with the Offering, Yunhao Chen, Paolo Pietrogrande, Mark Sheffield, and Ting Zhu were appointed to the board of directors of the Company (the Board"). Mr. Pietrogrande, Mr. Sheffield, and Ms. Zhu are independent directors.

Effective April 1, 2024, Mr. Pietrogrande, Mr. Sheffield, and Ms. Zhu were also appointed to the Board's (i) Audit Committee, with Ms. Zhu serving as chair of the Audit Committee, (ii) Compensation Committee, with Mr. Sheffield serving as chair of the Compensation Committee, and (iii) Nominating and Corporate Governance Committee, with Mr. Pietrogrande serving as chair of the Nominating and Corporate Governance Committee. The term of office of each of the directors will expire at the Company's first annual meeting of stockholders.