Twin Vee PowerCats Announces Closing of Public Offering

Rhea-AI Summary

Twin Vee PowerCats (Nasdaq:VEEE) closed a public offering of 6,383,000 common shares at $0.47 per share for gross proceeds of approximately $3.0 million.

The company said it intends to use net proceeds primarily for working capital and general corporate purposes. ThinkEquity acted as sole placement agent; registration became effective Jan 30, 2026, with a post-effective amendment on Feb 13, 2026.

Positive

• Gross proceeds of approximately $3.0 million raised
• Issued 6,383,000 shares to strengthen liquidity
• Net proceeds earmarked for working capital and general corporate purposes

Negative

• Potential dilution from issuing 6,383,000 new shares
• Proceeds used for working capital, not earmarked for specific growth projects

Key Figures

Shares offered: 6,383,000 shares Offering price: $0.47 per share Gross proceeds: $3 million +1 more

4 metrics

Shares offered 6,383,000 shares Public offering of common stock

Offering price $0.47 per share Public offering price

Gross proceeds $3 million Approximate gross proceeds before fees

Operating history 30 years Years building and selling boats

Market Reality Check

Price: $0.4780 Vol: Volume 5,665,932 is 8.43x...

high vol

$0.4780 Last Close

Volume Volume 5,665,932 is 8.43x the 672,336 share 20-day average, highlighting heavy reaction. high

Technical Shares at 0.4502 are trading below the 2.15 200-day moving average and near the 52-week low of 0.422.

Peers on Argus

VEEE fell 51.92%, while key peers mostly declined modestly (e.g., VMAR -3.32%, E...

VEEE fell 51.92%, while key peers mostly declined modestly (e.g., VMAR -3.32%, EZGO -3.57%, MAMO -4.87%). The magnitude of VEEE’s move is far larger, indicating a company-specific reaction to the offering.

Previous Offering Reports

4 past events · Latest: Feb 19 (Negative)

Same Type Pattern 4 events

Date	Event	Sentiment	Move	Catalyst
Feb 19	Equity offering	Negative	-4.9%	Priced 6,383,000-share offering at $0.47 for about $3M gross proceeds.
May 12	Equity offering	Negative	-6.3%	Closed 750,000-share offering at $4.00 raising $3M for working capital.
May 08	Equity offering	Negative	-53.8%	Announced pricing of 750,000-share public offering at $4.00 per share.
May 08	Equity offering	Negative	-53.8%	Proposed underwritten public stock offering for working capital and general use.

Pattern Detected

Equity offerings have historically led to sharp drops, with an average move of -29.72% on prior offering-related announcements.

Recent Company History

Over the past year, Twin Vee has repeatedly tapped equity markets, with offerings in May 2025 and a new financing cycle in February 2026. Prior offering announcements on May 8–12, 2025 and February 19, 2026 all produced negative price reactions, averaging a move of -29.72%. Today’s closing of the 6,383,000-share offering at $0.47 continues this pattern of capital raises funded via common stock.

Historical Comparison

-29.7% avg move · In the past year, VEEE’s offering-related news averaged a -29.72% move. Today’s -51.92% drop on the ...

offering

-29.7%

Average Historical Move offering

In the past year, VEEE’s offering-related news averaged a -29.72% move. Today’s -51.92% drop on the offering close is materially steeper than prior financing reactions.

Twin Vee has followed a recurring pattern of equity financings, with offerings in May 2025 and another multi-step pricing-to-closing sequence in February 2026.

Market Pulse Summary

This announcement confirms the closing of a 6,383,000-share public offering at $0.47 per share, rais...

Analysis

This announcement confirms the closing of a 6,383,000-share public offering at $0.47 per share, raising about $3 million before fees for working capital and general corporate purposes. Historically, Twin Vee’s offerings have coincided with notable stock volatility. Investors may track how efficiently these proceeds are used, the pace of any future equity raises, and subsequent operational updates relative to recent regulatory filings.

Key Terms

public offering, placement agent, form s-1, registration statement, +2 more

6 terms

public offering financial

"today announced the closing of its public offering of 6,383,000 shares"

A public offering is when a company sells shares to the general public through the stock market, either by issuing new shares to raise cash or by letting existing owners sell their stakes. Think of it like a business opening its doors to many new owners at once: it can bring in money for growth but also increases the number of shares available, which can change the stock price and dilute existing ownership — key factors investors watch closely.

placement agent financial

"ThinkEquity acted as sole placement agent for the offering."

A placement agent is a professional or firm that helps organizations raise money from investors, such as individuals, institutions, or funds. They act like matchmakers, connecting those seeking investments with the right investors and guiding the process to ensure successful funding. For investors, they can provide access to exclusive opportunities and help navigate complex fundraising efforts.

form s-1 regulatory

"A registration statement on Form S-1 (File No. 333-292661) relating"

A Form S-1 is the registration filing a company submits to the U.S. Securities and Exchange Commission when it plans to offer stock to the public, most commonly for an initial public offering. Think of it as the company’s full disclosure packet or blueprint: it contains audited financials, business description, management background, risk factors and details of the offering, giving investors the information needed to judge the company’s financial health and potential risks before buying shares.

registration statement regulatory

"A registration statement on Form S-1 (File No. 333-292661) relating"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

prospectus regulatory

"The offering was made only by means of a prospectus."

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

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.

AI-generated analysis. Not financial advice.

FORT PIERCE, FL / ACCESS Newswire / February 23, 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 public offering of 6,383,000 shares of common stock. Each share of common stock was sold at a public offering price of $0.47 per share, for gross proceeds of approximately $3 million, before deducting placement agent fees and other offering expenses.

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

ThinkEquity acted as sole placement agent for the offering.

A registration statement on Form S-1 (File No. 333-292661) relating to the securities was filed with the Securities and Exchange Commission ("SEC") and became effective on January 30, 2026, and a post-effective amendment to the registration statement became effective on February 13, 2026. The offering was made only by means of a prospectus. The final prospectus was filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus may also be obtained from 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 under the Twin Vee and Bahama Boat Works brands, designed for activities including fishing, cruising, and recreational use. Twin Vee PowerCats is 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 risk factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, 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

What did Twin Vee (VEEE) announce on February 23, 2026 about a public offering?

Twin Vee closed a public offering of 6,383,000 shares at $0.47 each for about $3.0M gross proceeds. According to the company, net proceeds will be used primarily for working capital and general corporate purposes.

How much did Twin Vee (VEEE) raise from the February 2026 offering and at what price?

Twin Vee raised approximately $3.0 million gross by selling shares at $0.47 per share. According to the company, the offering comprised 6,383,000 common shares placed via ThinkEquity as sole placement agent.

How will the February 2026 proceeds affect Twin Vee (VEEE) operations?

The company intends to use net proceeds primarily for working capital and general corporate purposes. According to the company, this aims to support ongoing operations and liquidity rather than a specific capital project.

Who acted as placement agent for Twin Vee's (VEEE) February 2026 offering?

ThinkEquity acted as the sole placement agent for the offering. According to the company, the offering was conducted under a Form S-1 registration that became effective Jan 30, 2026, with a Feb 13 post-effective amendment.

Where can investors find the Twin Vee (VEEE) final prospectus for the offering?

The final prospectus is available on the SEC website and from ThinkEquity. According to the company, the offering was made only by means of a prospectus filed with the Securities and Exchange Commission.