Twin Vee PowerCats Announces Offering Priced At-The-Market Under Nasdaq Rules

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.

Rhea-AI Summary

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.

Positive

• Gross proceeds of approximately $2.5 million
• Clear stated use of funds for working capital and general corporate purposes

Negative

• Issuance of 6,491,900 shares may dilute existing shareholders
• Offering priced at $0.384 per share signals limited near-term capital market valuation

Argus Mar 23 session

-6.68% close to close Open Argus

Details

News Market Reaction – VEEE

On Mar 23, the day this news came out, VEEE closed 6.68% below the previous close.

Data tracked by StockTitan Argus for the Mar 23 session.

Key Figures

Shares offered: 6,491,900 shares Offering price: $0.384 per share Gross proceeds: $2.5 million +5 more

Shares offered

6,491,900 shares

Best-efforts common stock offering

Offering price

$0.384 per share

At-the-market under Nasdaq rules

Gross proceeds

$2.5 million

Before fees and expenses

Expected close date

March 24, 2026

Planned offering closing, subject to conditions

Shelf file number

File No. 333-293911

Form S-3 registration statement

Shelf filing date

February 27, 2026

Form S-3 filed with SEC

Shelf effectiveness date

March 5, 2026

Registration statement declared effective

Operating history

30 years

Time building and selling boats

Previous Offering Reports

5 past events · Latest: Mar 17

Same Type 5 events

1. Mar 17

   Offering closing

   24h Move

   +34.6%

   Closed 4,473,000-share offering at $0.38, raising about $1.7M gross.

2. Mar 16

   Offering pricing

   24h Move

   +21.6%

   Priced 4,473,000-share at-the-market offering at $0.38 per share.

3. Mar 09

   Offering withdrawn

   24h Move

   -8.2%

   Withdrew previously proposed public offering of common stock.

4. Mar 09

   Offering proposed

   24h Move

   -8.2%

   Announced intention to pursue best-efforts public offering for working capital.

5. Feb 23

   Offering closing

   24h Move

   -2.1%

   Closed 6,383,000-share offering at $0.47, with about $3.0M gross proceeds.

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

Key Terms

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

7 terms

at-the-market financial

"announced the pricing of a best-efforts offering of 6,491,900 shares... priced 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.

best-efforts offering financial

"announced the pricing of a best-efforts offering of 6,491,900 shares of its common stock"

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.

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 of the offering"

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.

placement agent financial

"ThinkEquity is acting as the 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.

nasdaq rules regulatory

"Each share... is being sold at an offering price of $0.384 per share, priced at-the-market under Nasdaq rules"

Nasdaq rules are a set of guidelines and requirements that companies must follow to be listed and remain on the Nasdaq stock exchange. These rules help ensure companies are transparent, financially healthy, and operate fairly, which is important for investors to trust the market and make informed decisions. Think of them as the standards that keep the marketplace honest and organized.

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

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FORT PIERCE, FL / ACCESS Newswire / March 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 pricing of a best-efforts offering of 6,491,900 shares of its common stock. Each share of common stock is being sold at an offering price of $0.384 per share, priced at-the-market under Nasdaq rules. Total gross proceeds from the offering, before deducting the placement agent fee and other offering expenses, are expected to be approximately $2.5 million. The offering is expected to close on March 24, 2026, subject to satisfaction of customary closing conditions.

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

ThinkEquity is acting as the sole placement agent for the offering.

The securities will be 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 will be made only by means of a written prospectus. A final prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC on its website at www.sec.gov. Copies of the accompanying prospectus and final prospectus supplement relating to the offering may also be obtained, when available, 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 timing and completion of the proposed offering and 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) offer and at what price?

Twin Vee priced a best-efforts offering of 6,491,900 shares at $0.384 per share. According to the company, this at-the-market sale is expected to generate roughly $2.5 million in gross proceeds before fees and expenses.

When will the VEEE offering close and what conditions apply?

The offering is expected to close on March 24, 2026, subject to customary closing conditions. According to the company, completion depends on satisfaction of those conditions and finalization of the prospectus supplement filed with the SEC.

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

The company intends to use net proceeds primarily for working capital and general corporate purposes. According to the company, proceeds are not earmarked for a specific acquisition or project beyond supporting operations and liquidity.

Who is acting as placement agent for the VEEE at-the-market offering?

ThinkEquity is the sole placement agent for the offering. According to the company, ThinkEquity will sell the shares on a best-efforts basis under the Form S-3 shelf registration declared effective on March 5, 2026.

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

The final prospectus supplement will be filed with the SEC and available at www.sec.gov. According to the company, investors may also request copies from ThinkEquity at its stated New York address once the supplement is filed.