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Twin Vee PowerCats Co. reports developments tied to its power sport boat manufacturing, distribution, and marketing business. The company builds recreational and commercial boats, including Twin Vee power catamarans, 400 GFX2 models used in commercial tourism applications, and boats under the Bahama Boat Works brand for the offshore center console market.
Recurring news themes include quarterly operating results, product-line expansion, dealer network additions, custom boat orders, working-capital financing, and corporate governance actions. Company updates also cover the completed reincorporation to Nevada, equity offerings, field inventory management, product development costs, and efforts to broaden model availability through authorized marine dealers.
Twin Vee PowerCats (Nasdaq:VEEE) reported first quarter 2026 results with revenues up ~10% year-over-year and +31% versus Q4 2025. The company posted a $2.09M net loss and an Adjusted EBITDA loss of $776,000. Cash and equivalents rose by more than $4M after equity offerings. Twin Vee relaunched Bahama Boat Works with new 21' and 23' models and delivered the first Bahama 35 built at its factory. The company completed a 1-for-37 reverse stock split effective May 4, 2026 after receiving Nasdaq notice of minimum bid-price noncompliance.
Twin Vee PowerCats (Nasdaq:VEEE) announced a repeat order from Bahamas tour operator Exuma Water Sports for a second custom 400 GFX2 power catamaran on May 6, 2026. The vessel is purpose-built for daily commercial use, aimed at delivering ride quality, stability, and high-capacity passenger experiences in luxury tourism operations.
Management says the repeat order validates the 400 GFX2 for high-demand commercial applications and supports Twin Vee's positioning of the model for premium global operators.
Twin Vee PowerCats (Nasdaq:VEEE) announced a 1-for-37 reverse stock split effective 12:01 a.m. ET on May 4, 2026, with trading on a split-adjusted basis beginning May 4, 2026 under the existing ticker VEEE.
The reverse split will reduce outstanding shares from ~19.6 million to ~0.5 million and authorized common shares from 500.0 million to ~13.5 million; fractional shares will be rounded up. The board said the measure aims to regain compliance with Nasdaq's minimum bid price requirement.
Twin Vee PowerCats Co (Nasdaq:VEEE) completed its reincorporation from Delaware to Nevada on April 13, 2026. Stockholders approved the move at the company's November annual meeting. The company says the change eliminates Delaware franchise tax obligations, may reduce litigation distractions, and provides greater corporate flexibility while keeping operations unchanged.
Twin Vee PowerCats (Nasdaq:VEEE) named Nautical Ventures Group as its exclusive authorized dealer in Broward County, Florida, effective March 31, 2026. The agreement covers two Broward locations, initial inventory deliveries in the coming weeks, and collaboration on two custom adventure boat models aimed at South Florida demand.
The tie-up leverages Nautical Ventures' Top 100 dealer ranking and targets near-term retail activity in a high-volume Florida boating market.
Vision Marine Technologies (NASDAQ: VMAR) subsidiary Nautical Ventures secured exclusive Twin Vee PowerCats (NASDAQ: VEEE) distribution rights for Broward County, Florida, with initial inventory deliveries expected within weeks.
The agreement grants territorial exclusivity, aligns Nautical Ventures' retail network with Twin Vee's manufacturing scale (12 models; >700 boats annual capacity; ~10,000 boats produced) and includes two custom "Adventure Edition" models, including a 34-foot 340 GFX-2 V Edition, with select platforms planned for integration with Vision Marine's E-Motion electric propulsion subject to final development.
Twin Vee PowerCats (Nasdaq:VEEE) completed delivery of the first Bahama vessel under its ownership on March 25, 2026, a 35-foot model delivered to longtime customer Richard Robinson.
The move preserves Bahama Boat Works' premium lineup while Twin Vee continues production of legacy models and develops new Bahama platforms, including a planned 31-foot design. The company will display Bahama 21 and 23 models at the Palm Beach International Boat Show (Booth #1049).
Twin Vee PowerCats (NASDAQ:VEEE) announced the closing of a best-efforts at-the-market offering of 6,491,900 common shares at $0.384 per share, generating approximately $2.5 million in gross proceeds. The company intends to use net proceeds primarily for working capital and general corporate purposes.
ThinkEquity acted as sole placement agent; the offering was made under a Form S-3 registration declared effective March 5, 2026, with a final prospectus filed on March 24, 2026.
Twin Vee PowerCats (NASDAQ:VEEE) priced a best-efforts at-the-market offering of 6,491,900 common shares at $0.384 per share, expected to raise approximately $2.5 million gross. The offering is expected to close on March 24, 2026, subject to customary conditions.
The company intends to use net proceeds primarily for working capital and general corporate purposes. ThinkEquity is the sole placement agent and the securities are offered under an effective Form S-3 shelf registration.
Twin Vee PowerCats (NASDAQ:VEEE) closed a best-efforts at-the-market offering of 4,473,000 shares at $0.38 per share, raising approximately $1.7 million in gross proceeds on March 17, 2026. Net proceeds are intended for working capital and general corporate purposes.
ThinkEquity acted as sole placement agent; the securities were offered under a Form S-3 shelf registration declared effective March 5, 2026, and a final prospectus supplement was filed with the SEC.