Business
Twin Vee PowerCats Co. Announces Closing of Public Offering
FORT PIERCE, FL / ACCESS Newswire / May 12, 2025 / 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 / May 12, 2025 / Twin Vee PowerCats Co. (NASDAQ:VEEE), (\"Twin Vee\" or the \"Company\"), a manufacturer, distributor, and marketer of power sport boats, today announced the closing of its underwritten public offering of 750,000 shares of its common stock. Each share of common stock was sold at a public offering price of $4.00 per share. Total gross proceeds from the offering, before deducting the underwriting discount and other offering expenses, were $3,000,000.The Company intends to use the net proceeds from the offering primarily for working capital and general corporate purposes.ThinkEquity acted as the sole book-running manager for the offering.The securities were offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-266858), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the \"SEC\") on August 15, 2022, and declared effective on August 24, 2022, along with a final prospectus supplement, dated May 8, 2025. The offering was made only by means of a written prospectus. The final prospectus supplement and accompanying base prospectus describing the terms of the offering was filed with the SEC on May 12, 2025 and is available on its website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained 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 designed for activities including fishing, cruising, and recreational use. Twin Vee PowerCats are recognized for their stable, 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 Water™.\" The Company is located in Fort Pierce, Florida, and has been building and selling boats for 30 years. Learn more at twinvee.com.Visit Twin Ve...