Twin Vee PowerCats Announces Closing of Offering

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.

Rhea-AI Summary

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.

Positive

• Gross proceeds of approximately $1.7 million raised
• Placement executed under an effective Form S-3 shelf registration

Negative

• Issued 4,473,000 new shares at $0.38, creating shareholder dilution
• Proceeds earmarked for working capital, not for specific growth projects

Argus Mar 18 session

+34.64% close to close Open Argus

Details

News Market Reaction – VEEE

In the Mar 18 session, VEEE gained 34.64%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock surged +34.6% in the session following this news. A strong positive reaction would have al...

Analysis

The stock surged +34.6% in the session following this news. A strong positive reaction would have aligned with the prior day’s 21.63% move on the offering pricing headline, suggesting traders sometimes front-ran or squeezed around VEEE’s financings. However, the broader pattern around offerings showed mostly negative average moves of -9.76%. Active use of the S-3 shelf and repeated capital raises could limit how long any such strength persisted.

Key Figures

Shares offered: 4,473,000 shares Offering price: $0.38 per share Gross proceeds: $1.7 million +4 more

Shares offered

4,473,000 shares

Common stock in best-efforts offering

Offering price

$0.38 per share

At-the-market under Nasdaq rules

Gross proceeds

$1.7 million

Total gross before fees and expenses

Form S-3 file number

333-293911

Shelf registration used for this offering

S-3 filing date

February 27, 2026

Shelf registration filed with SEC

Effectiveness date

March 5, 2026

Form S-3 declared effective by SEC

Operating history

30 years

Duration building and selling boats

Previous Offering Reports

5 past events · Latest: Mar 16

Same Type 5 events

1. Mar 16

   Offering priced

   24h Move

   +21.6%

   Announced pricing of 4,473,000-share at-the-market equity offering.

2. Mar 09

   Offering withdrawn

   24h Move

   -8.2%

   Company withdrew a previously proposed public stock offering.

3. Mar 09

   Offering proposed

   24h Move

   -8.2%

   Announced intent to pursue best-efforts common stock offering.

4. Feb 23

   Offering closed

   24h Move

   -2.1%

   Closed 6,383,000-share public offering at $0.47 per share.

5. Feb 19

   Offering priced

   24h Move

   -51.9%

   Priced 6,383,000-share best-efforts public offering at $0.47.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

best-efforts offering, at-the-market, shelf registration statement, form s-3, +3 more

7 terms

best-efforts offering financial

"announced the closing of its best-efforts offering of 4,473,000 shares"

A best-efforts offering is a way of selling new securities where the broker or underwriter agrees to try to sell as many shares or bonds as possible but does not promise to buy any unsold portion. For investors, it matters because the issuer bears the risk of weak demand — the deal may raise less money or the price may be more volatile, similar to hiring a salesperson who will try hard to sell your goods but won’t guarantee any specific sales.

at-the-market financial

"Each share of common stock was sold at an offering price of $0.38 per share, at-the-market under Nasdaq rules."

"At-the-market" is a method for companies to sell new shares of stock directly into the open market over time, rather than all at once. It allows companies to raise money gradually, similar to selling slices of a pie instead of the entire pie at once, which can help manage the sale's impact on the stock price. This approach gives investors a steady supply of shares while providing companies with flexible funding options.

shelf registration statement regulatory

"pursuant to a shelf registration statement on Form S-3 (File No. 333-293911)"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

form s-3 regulatory

"shelf registration statement on Form S-3 (File No. 333-293911)"

Form S-3 is a legal document companies use to register their stock sales with the government, making it easier and faster for them to raise money by selling shares to investors. It’s like having a pre-approved shopping list that lets a company quickly sell new shares when they need funds, without going through a lengthy approval process each time.

prospectus supplement regulatory

"A final prospectus supplement and accompanying prospectus describing the terms"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

forward-looking statements regulatory

"This press release contains certain forward-looking statements within the meaning"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

form 10-k regulatory

"risk factors described in the Company's Annual Report on Form 10-K for the year ended"

A Form 10-K is a comprehensive report that publicly traded companies are required to file annually with regulators. It provides a detailed overview of a company's financial health, operations, and risks, similar to a detailed health report. Investors use this information to assess the company's performance and make informed decisions about buying or selling its stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FORT PIERCE, FL / ACCESS Newswire / March 17, 2026 / 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 best-efforts offering of 4,473,000 shares of its common stock. Each share of common stock was sold at an offering price of $0.38 per share, at-the-market under Nasdaq rules. Total gross proceeds from the offering, before deducting the placement agent fee and other offering expenses, were approximately $1.7 million.

The Company intends to use the net proceeds from the offering primarily for working capital and general corporate purposes.

ThinkEquity acted as the sole placement agent for the offering.

The securities were 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 was made only by means of a written prospectus. A final prospectus supplement and accompanying prospectus describing the terms of the offering has been filed with the SEC 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, 41^st 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 Water™." Bahama Boat Works is an iconic luxury brand long celebrated for its unmatched craftsmanship, timeless aesthetic, and dedication to producing some of the finest offshore fishing vessels.

The Company is located in Fort Pierce, Florida, and has been building and selling boats for 30 years.

Learn more at twinvee.com and bahamaboatworks.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements and include statements regarding the intended use of proceeds.

These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to consummate the offering and the risk factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, the Company's Quarterly Reports on Form 10-Q, the Company's Current Reports on Form 8-K and subsequent filings with the SEC. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.

Contact:
Glenn Sonoda
investor@twinvee.com

SOURCE: Twin Vee PowerCats Co.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did Twin Vee PowerCats (VEEE) sell in the March 17, 2026 offering?

Twin Vee sold 4,473,000 shares in the offering. According to the company, each share was sold at $0.38 in an at-the-market offering under Nasdaq rules.

How much gross capital did VEEE raise from the March 17, 2026 offering?

The offering generated approximately $1.7 million in gross proceeds. According to the company, this figure is before placement agent fees and offering expenses.

What will Twin Vee PowerCats (VEEE) use the offering proceeds for?

The company intends to use net proceeds primarily for working capital and general corporate purposes. According to the company, no specific projects or acquisitions were identified in the announcement.

Who acted as placement agent for VEEE's March 2026 at-the-market offering?

ThinkEquity served as the sole placement agent for the offering. According to the company, the securities were offered and sold pursuant to an effective Form S-3 shelf registration.

Was Twin Vee PowerCats' March 2026 offering registered with the SEC and under what filing?

Yes; the securities were offered under a shelf registration on Form S-3 (File No. 333-293911). According to the company, the registration was filed February 27, 2026 and declared effective March 5, 2026.