Twin Vee PowerCats Co. Announces Reincorporation to Nevada to Enhance Corporate Flexibility and Drive Long-Term Cost Savings

About this update from Twin Vee Powercats Co.

FORT PIERCE, FL / ACCESS Newswire / April 13, 2026 / Twin Vee PowerCats Co. (Nasdaq:VEEE) ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced that it has completed its reincorporation from the State of Delaware to the State of Nevada. The strategic move was approved by the Company's stockholders at its annual meeting of stockholders in November as a proactive measure to reduce operational costs and support Twin Vee's long-term growth objectives.Specifically, a majority of the Company's stockholders who voted agreed that reincorporating in Nevada serves the best interests of Twin Vee and its stockholders by providing a reliable, statute-focused legal environment that establishes clear guideposts for strategic decision-making. "We believe that Nevada Revised Statutes Chapter 78, which governs Nevada corporations, is generally recognized as a comprehensive and thoughtfully maintained state corporate statute," said Joseph Visconti, CEO and President of Twin Vee PowerCats Co. "As we look to our planned growth, strategic decisions, and plan for the years to come, removing ambiguity resulting from the prioritization of judicial interpretation can offer our Board and management clearer guideposts for action that we believe will benefit our stockholders."According to Visconti, Twin Vee's reincorporation brings several immediate and long-term benefits to the Company and its stockholders. Foremost is substantial cost savings. The move to Nevada eliminates the obligation to pay the annual Delaware franchise tax, retaining vital capital within the business to be deployed toward manufacturing, innovation, and expansion.Additionally, the Company anticipates that the transition could reduce litigation distractions. "By moving away from Delaware's increasingly litigious environment, which can result in less meritorious and costly lawsuits, Twin Vee can minimize unnecessary distractions for its directors and management," explains Visconti. "This keeps the team strictly focused on operational execution and stockholders value."Furthermore, Twin Vee believes that Nevada's legal framework provides enhanced corporate flexibility, granting greater agility in structuring certain corporate transactions and responding to the evolving business environment."Importantly, the reincorporation to Nevada will not cause any disrupt...

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