This Week in Powersports Business – The week of September 14, 2025

News and stories from the world of Powersports business.

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Damon Announces $30 Million Reg A+ Offering to Advance Its Personal Mobility Products and AI-Enabled Connected Vehicle Strategy

Damon Inc. (OTCID: DMNIF) (“Damon” or the “Company”), a designer and developer of electric motorcycles and other personal mobility products that seek to empower the personal mobility sector through innovation, today announced the launch of its $30 million Regulation A+ equity offering. Net proceeds from the offering will be used to further develop Damon’s personal mobility products, including advancement of its HyperSport Race electric motorcycle program and AI-enabled cloud platform – Damon I/O – designed to power the next generation of personal mobility products and services, along with repayment of senior secured convertible debt to the extent not converted, and working capital. Damon believes this offering presents an opportunity for the public to invest in a scalable, connected vehicle technology suite of products and services, focused on safety, data and intelligence, which Damon believes can transform the personal mobility industry. The Reg A+ offering is open to accredited investors and qualified non-accredited investors. A link to the Offering Circular, filed with the U.S. Securities and Exchange Commission, is provided above.

Overview of Damon’s Regulation A+ Offering Terms:

• Unit offering: Each unit is offered at $0.10 per unit. Each unit consists of one Common Share and one Warrant to purchase one Common Share at an exercise price of $0.12 per share that will expire in 3 years.
  
• Bonus Units: Investment levels of $2,500 or higher receive bonus units in escalating amounts based on the investment amount.
  
• Minimum investment: Minimum investment is $1,000 for 10,000 units.

While Damon has over 3,000 pre-orders for its award-winning electric motorcycles, these vehicles serve as the primary showcase for the power of the Damon I/O platform. The company’s business strategy is evolving beyond manufacturing vehicles to include licensing its vertically integrated hardware and software stack to other OEMs, commercial fleets, and technology partners.

“Damon is more than an electric motorcycle company; we are a technology company building a platform to redefine the entire personal mobility industry,” said Dominique Kwong, CEO and Founder of Damon. “Designing safer personal mobility products is where we started, but we believe the Damon I/O connected vehicle platform will enable us to scale and offer solutions to other vehicle makers. We are inviting investors to help us build a connected ecosystem that makes every vehicle smarter and safer, whether it’s a Damon vehicle or another maker’s vehicle.”

We believe our Damon I/O connected vehicle strategy will allow for multiple, high-margin revenue opportunities beyond vehicle sales:

• OEM Licensing: Offering a turnkey solution for manufacturers to fast-track their entry into the connected vehicle market with advanced safety and telematics.
• Commercial Fleet Solutions: Providing data, predictive maintenance, remote diagnostics, and risk modeling for logistics and last-mile delivery services.
• Consumer Subscriptions: Powering features like navigation, ride analytics, and the patented CoPilot™ 360° collision warning system.
• AI-Powered Data Services: Creating new opportunities for mobility planning, insurance partners, and emergency responders.

This B2B and B2C strategy positions Damon at the intersection of two key industries: Consumer EV Personal Mobility and Connected Vehicle Technology. The Damon I/O platform is designed to grow smarter as more Damon I/O powered vehicles hit the road, creating a powerful network effect that continuously expands its value and competitive advantage.

“No one else in the category is combining integrated safety, performance, and connected intelligence the way Damon is,” continued Mr. Kwong. “Traditional OEMs are structured to build mechanical machines and struggle with deep software integration. We believe Damon I/O is the solution. It is a modular and extensible platform designed for partners seeking to modernize their fleets and offer the safer, smarter experiences that today’s customers demand.”

For more information about Damon’s vision for a connected mobility future and to learn about the investment opportunity, please visit Invest.Damon.com

AIMExpo and MPN Supercharge Education with 2026 Dealer Excellence Track

Dealer education will be at the forefront of AIMExpo 2026 as North America’s biggest powersports trade show once again joins forces with Motorcycle & Powersports News (MPN) to deliver the Dealer Excellence education track. The collaboration is set to deliver bold ideas, real-world solutions, and the tools dealers need to stay ahead in today’s fast-moving landscape.

Dealerships today are up against ever-evolving customer needs, relentless market pressure, and a constant wave of new technology and expectations. The Dealer Excellence sessions are built to cut through the noise, equipping dealers with proven tactics to boost efficiency, sharpen operations, and excel.

“Teaming up with MPN for dealer education just makes sense,” said Cinnamon Kernes, Vice President of Market Expansion at the Motorcycle Industry Council. “Their team is on the ground with dealers every day. They know what’s changing, what’s working, and what matters most. By joining forces, we’re delivering education that’s practical, immediate, and built for today’s realities.”

“Our goal is to give dealers tools and strategies they can use right now, not just ideas for the future,” said Meagan Kusek, Editor of Motorcycle & Powersports News. “We’re proud to work alongside AIMExpo to bring new perspectives, straight from the field to the tradeshow floor.”

This year’s Dealer Excellence track confronts the real challenges dealerships face, streamlining operations, adapting to new trends, and turning obstacles into opportunities. Every session is packed with insights dealers can act on from day one. Sessions like “Fixed Ops: Advice for Beyond the Showroom,” “E-Commerce: Capturing Customers Who Don’t Want to Come In,” and “EV Customers Are Different: Are Your Salespeople Ready?” are just a sample of what’s in store. The full schedule will be announced soon.

“There’s never been a more important time to double down on education,” Kernes said. “Dealers who show up, engage, and bring new ideas back to their teams will be the ones driving the industry forward. That’s what Dealer Excellence is all about.”

Harley-Davidson, Inc. Announces Appointment of Two New Independent Directors

Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE: HOG) today announced that its Board of Directors (“Board”) has appointed two new independent directors, Daniel Nova and Matt Reintjes, effective September 15, 2025. Mr. Nova currently serves as General Partner of Highland Capital Partners, a venture capital fund. Mr. Reintjes is President and Chief Executive Officer at YETI Holdings, Inc. (NYSE: YETI).

“Daniel and Matt distinguished themselves during our search with their broad business expertise spanning commercial strategy, brand and product development, operations, supply chain, and finance. These are skills that will be invaluable to Harley-Davidson, the Board, and Artie Starrs, as he steps into the CEO role later this year,” said Troy Alstead, Presiding Director. “Daniel has a proven track record of investing in and advising companies through transformative growth, coupled with his deep corporate governance, finance, and capital allocation experience. Matt brings the perspective of a successful, tenured CEO of a public company, leading a premium outdoor brand with an intensely loyal customer base, and the demonstrated ability to create innovative products and spur international growth. Their strengths will further enhance our Board, support the execution of our strategy and help propel Harley-Davidson toward its future vision.”

Mr. Nova has served as a General Partner of Highland Capital Partners, a venture capital firm, since 1999. At Highland Capital Partners, he has played a critical role advising companies through periods of strategic growth and transition. Mr. Nova has extensive board experience at public companies, including thredUP and Eversource Energy, where he was named Lead Independent Trustee in 2024.

“I am honored to join the Harley-Davidson board, and I look forward to working with the Board to continue building on the company’s storied legacy and advancing its transformation to drive growth and value creation,” said Mr. Nova.

Mr. Reintjes has served as President and CEO of YETI Holdings, Inc. since 2015, and during his tenure has overseen the company’s transformation into a leading global outdoor brand with a growing international customer base. He previously held executive roles at Vista Outdoor and Danaher Corporation, building a strong reputation in product innovation and operational excellence.

“Since 1903, the unique and iconic Harley-Davidson brand has represented a sense of freedom and the adventurous spirit of our riders. I am excited to join my fellow Board members in extending Harley-Davidson’s cultural legacy and delivering further value for our stakeholders,” said Mr. Reintjes.

Directors Sara Levinson and Norman Thomas Linebarger announced their retirement from the Board on September 9, 2025, and September 10, 2025, respectively.

Mr. Alstead added, “We are deeply grateful to Tom and Sara for their years of dedicated service to Harley-Davidson and our shareholders. Throughout their tenure, they have guided the company through significant challenges with steady leadership and unwavering commitment. We thank them sincerely for their contributions and wish them the very best in their future endeavors.”

With the addition of Mr. Nova and Mr. Reintjes, the Board will have added four new independent members to its nine-member board in the last three years. In addition, as previously disclosed, the Board appointed Troy Alstead as Presiding Director effective July 30, 2025, and Chairman of the Board effective October 1, 2025.

Massimo Group Announces Launch of New Electric UTV for 2026, Expanding Into Growing EV Market

Massimo Group (NASDAQ: MAMO), a manufacturer and distributor of powersports vehicles, today announces the upcoming launch of its electric utility terrain vehicle (UTV), set to debut in 2026. This new model underscores the Company’s commitment to meeting evolving customer demands and positioning itself as a competitive force in the fast-growing electric utility vehicle market.

The new Electric UTV combines advanced performance features with quiet, efficient, and environmentally friendly operation. Powered by a 72V 200AH lithium battery paired with a 15KW permanent magnet synchronous motor, the vehicle offers a driving range of up to 70 kilometers per charge. The UTV also delivers real-time 4WD capability, a maximum speed of 45 km/h, and a 7-inch (optional 10-inch) touchscreen display for enhanced driver control and user experience.

“The market for electric UTVs is expanding rapidly, not only among environmentally conscious consumers but also within the farm and ranch communities where quiet operation and reduced emissions are increasingly important,” said David Shan, Chief Executive Officer of Massimo Group. “By entering this segment, Massimo is aligning with long-term consumer trends while creating significant growth opportunities for our Company and shareholders.”

The electric UTV market has seen steady adoption across outdoor, agricultural, and recreational sectors, with customers seeking vehicles that provide ease of use, reduced maintenance, and environmental benefits without compromising on capability. Massimo Group’s entry into this market is designed to deliver strong value and performance to its retail and dealer partners.

This model joins Massimo’s expanding lineup of UTVs, ATVs, and recreational vehicles, further strengthening the Company’s 2026 portfolio.