Business
Twin Vee PowerCats Announces Offering Priced At-The-Market Under Nasdaq Rules
FORT PIERCE, FL / ACCESS Newswire / March 23, 2026 / Twin Vee PowerCats Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and
About this update from Twin Vee Powercats Co.
[{"type":"text","content":"FORT PIERCE, FL / ACCESS Newswire / March 23, 2026 / Twin Vee PowerCats Co. (NASDAQ:VEEE), (\"Twin Vee\" or the \"Company\"), a manufacturer, distributor, and marketer of power sport boats, today announced the pricing of a best-efforts offering of 6,491,900 shares of its common stock. Each share of common stock is being sold at an offering price of $0.384 per share, priced at-the-market under Nasdaq rules. Total gross proceeds from the offering, before deducting the placement agent fee and other offering expenses, are expected to be approximately $2.5 million. The offering is expected to close on March 24, 2026, subject to satisfaction of customary closing conditions.The Company intends to use the net proceeds from the offering primarily for working capital and general corporate purposes.ThinkEquity is acting as the sole placement agent for the offering.The securities will be offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-293911), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the \"SEC\") on February 27, 2026, and declared effective on March 5, 2026. The offering will be made only by means of a written prospectus. A final prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC on its website at www.sec.gov. Copies of the accompanying prospectus and final prospectus supplement relating to the offering may also be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Twin Vee PowerCats Co.Twin Vee PowerCats Co. manufactures a range of boats under the Twin Vee and Bahama Boat Works brands, designed for activities including fishing, cruising, and recreational use. Twin Vee PowerCats are recognized for their stable, fuel-efficient, and smooth-riding catamaran hull designs. Twin Vee is one of the most recognizable brand names in the catamaran sport boat category and is known as the \"Best Riding Boats on the W...