Welcome to our dedicated page for Twin Vee Powercats news (Ticker: VEEE), a resource for investors and traders seeking the latest updates and insights on Twin Vee Powercats stock.
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 Co. (NASDAQ:VEEE) will host a conference call on August 24, 2021, at 10:00 a.m. ET to discuss its second quarter 2021 financial results. A press release with financial highlights will precede the call. Interested parties can join by calling +1-888-203-3485 or via a live webcast, available on the company's investor page. The company specializes in designing and manufacturing recreational and commercial power catamarans, with operations based in Fort Pierce, Florida.
Twin Vee PowerCats Co. (Nasdaq:VEEE) was featured on boating's Factory Fridays, showcasing their manufacturing process. The episode aired on August 6, 2021, and highlighted the company's production of gas-powered models, including the new 34-foot 340 GFX and the 40-foot offshore 400 GFX. Twin Vee is also venturing into sustainable marine technologies with plans for a new line of Twin Vee Electric boats and an electric outboard motor system. This initiative aims to cater to those wanting to retrofit gas-powered boats with electric propulsion.
Twin Vee PowerCats (NASDAQ:VEEE) announced the 280 Center Console GFX has been reviewed in the August 2021 issue of Rudow's FishTalk. Reviewer Lenny Rudow praised the boat's stability and deck space, noting that it feels larger than its size and can handle up to 600 horsepower, achieving speeds of 50 mph. The article encourages potential buyers to experience the boat through a sea trial. President Joseph Visconti highlighted the company's commitment to innovative boat design.
Twin Vee PowerCats, Co. (NASDAQ:VEEE) has launched production of its new 340 GFX model boat. This 34-foot catamaran features twin gas-powered outboard motors, an 800-horsepower capacity, and a 400-gallon fuel tank. The company plans to showcase the 340 GFX at the Fort Lauderdale International Boat Show from October 27-31, 2021, which attracts over 100,000 attendees and major buyers. Twin Vee has a range of eleven gas-powered models and focuses on enhancing performance and fuel efficiency through its unique twin-hull design.
Twin Vee PowerCats Co. (NASDAQ:VEEE) has completed its initial public offering, closing with 3,000,000 shares priced at $6.00 each, totaling $18,000,000 before expenses. The offering includes a 45-day option for underwriters to purchase an additional 450,000 shares. The proceeds will be used for the production of larger boats, developing electric propulsion systems, and acquiring waterfront property for an innovation center. ThinkEquity acted as the sole book-running manager for this offering.
Twin Vee PowerCats announced the pricing of its initial public offering (IPO) of 3,000,000 shares at $6.00 each, yielding gross proceeds of $18 million. An additional 450,000 shares may be purchased by underwriters. Proceeds will fund production and marketing of new electric boats and the development of the Electra Power Sports EV Innovation & Testing Center. Trading under the symbol VEEE begins on July 21, 2021, with closure expected on July 23, 2021.