Twin Vee PowerCats Announces Proposed Public Offering of Common Stock
Twin Vee PowerCats Co. (NASDAQ:VEEE), a manufacturer of power sport boats, has announced plans for an underwritten public offering of common stock. The company intends to use the proceeds for working capital and general corporate purposes. ThinkEquity will serve as the sole book-running manager for the offering, which will be conducted under a shelf registration statement filed with the SEC in August 2022.
Twin Vee, known as the "Best Riding Boats on the Water™," has been building and selling boats for 30 years from their Fort Pierce, Florida location. The company specializes in catamaran hull designs recognized for stability and efficiency. The completion, size, and terms of the offering remain subject to market conditions.
Twin Vee PowerCats Co. (NASDAQ:VEEE), produttore di barche per sport motoristici, ha annunciato l'intenzione di effettuare un'offerta pubblica sottoscritta di azioni ordinarie. La società prevede di utilizzare i proventi per il capitale circolante e scopi aziendali generali. ThinkEquity agirà come unico responsabile del libro ordini per l'offerta, che sarà condotta nell'ambito di una dichiarazione di registrazione a scaglioni depositata presso la SEC nell'agosto 2022.
Twin Vee, conosciuta come le “Barche con la migliore tenuta sull'acqua™,” costruisce e vende imbarcazioni da 30 anni dalla sua sede di Fort Pierce, Florida. L'azienda si specializza in progetti di scafi catamarano noti per stabilità ed efficienza. Il completamento, la dimensione e le condizioni dell'offerta dipendono dalle condizioni di mercato.
Twin Vee PowerCats Co. (NASDAQ:VEEE), fabricante de embarcaciones deportivas a motor, ha anunciado planes para una oferta pública suscrita de acciones ordinarias. La empresa tiene la intención de usar los fondos para capital de trabajo y propósitos corporativos generales. ThinkEquity será el único administrador principal del libro de órdenes para la oferta, que se llevará a cabo bajo una declaración de registro en estantería presentada ante la SEC en agosto de 2022.
Twin Vee, conocida como las “Mejores embarcaciones para navegar™,” ha estado construyendo y vendiendo barcos durante 30 años desde su sede en Fort Pierce, Florida. La compañía se especializa en diseños de cascos catamarán reconocidos por su estabilidad y eficiencia. La finalización, tamaño y términos de la oferta están sujetos a las condiciones del mercado.
Twin Vee PowerCats Co. (NASDAQ:VEEE)는 파워 스포츠 보트 제조업체로, 보통주에 대한 인수 공모를 계획하고 있다고 발표했습니다. 회사는 자금을 운전자본과 일반 기업 목적에 사용할 예정입니다. ThinkEquity가 단독 주관사로서 이번 공모를 진행하며, 2022년 8월 SEC에 제출된 선반 등록 명세서에 따라 진행됩니다.
“물 위에서 최고의 승차감을 자랑하는 보트™”로 알려진 Twin Vee는 플로리다주 포트피어스에서 30년간 보트를 제작 및 판매해왔습니다. 이 회사는 안정성과 효율성으로 인정받는 쌍동선 선체 설계에 특화되어 있습니다. 공모의 완료, 규모 및 조건은 시장 상황에 따라 달라질 수 있습니다.
Twin Vee PowerCats Co. (NASDAQ:VEEE), fabricant de bateaux de sport motorisés, a annoncé son projet d’offre publique souscrite d’actions ordinaires. La société prévoit d’utiliser les fonds pour le fonds de roulement et des besoins généraux d’entreprise. ThinkEquity agira en tant que gestionnaire unique de l’offre, qui sera réalisée dans le cadre d’une déclaration d’enregistrement sur étagère déposée auprès de la SEC en août 2022.
Twin Vee, reconnue comme les « Meilleurs Bateaux pour la Navigation™ », construit et vend des bateaux depuis 30 ans depuis son site de Fort Pierce, en Floride. L’entreprise est spécialisée dans les coques catamarans, réputées pour leur stabilité et leur efficacité. La réalisation, la taille et les conditions de l’offre restent soumises aux conditions du marché.
Twin Vee PowerCats Co. (NASDAQ:VEEE), ein Hersteller von Powersportbooten, hat Pläne für ein unterzeichnetes öffentliches Angebot von Stammaktien angekündigt. Das Unternehmen beabsichtigt, die Erlöse für das Betriebskapital und allgemeine Unternehmenszwecke zu verwenden. ThinkEquity wird als alleiniger Bookrunner für das Angebot fungieren, das unter einer im August 2022 bei der SEC eingereichten Shelf-Registrierung durchgeführt wird.
Twin Vee, bekannt als die „Best Riding Boats on the Water™“, baut und verkauft seit 30 Jahren Boote von ihrem Standort in Fort Pierce, Florida. Das Unternehmen spezialisiert sich auf Katamaran-Rumpfdesigns, die für Stabilität und Effizienz bekannt sind. Der Abschluss, Umfang und die Bedingungen des Angebots hängen von den Marktbedingungen ab.
- Potential to strengthen working capital position through the offering
- Established market presence with 30 years of boat-building experience
- Active shelf registration statement already in place, streamlining the offering process
- Potential dilution of existing shareholders' value
- Uncertain offering terms and timing dependent on market conditions
- Additional shares could put downward pressure on stock price
Insights
Twin Vee announces common stock offering with unspecified size and terms, likely diluting shareholders with proceeds for working capital purposes.
This announcement represents a standard capital-raising transaction that requires careful analysis. Twin Vee is pursuing an underwritten public offering of common stock under a shelf registration statement that was filed in August 2022 and declared effective shortly thereafter. The timing suggests this has been part of the company's capital strategy for some time.
Several key details remain unspecified, most notably the size of the offering and its pricing terms. Without this information, it's impossible to calculate the potential dilution existing shareholders will experience. The company has only stated it will use proceeds for "working capital and general corporate purposes" - typically boilerplate language that provides little insight into specific strategic initiatives.
The appointment of ThinkEquity as the sole book-running manager indicates this is a relatively standard offering structure. However, the press release includes several cautionary statements worth noting. The company emphasizes the offering is "subject to market conditions" and explicitly states "there can be no assurance as to whether or when the offering may be completed, or as to the size or terms." This standard language protects the company legally but also indicates some uncertainty about execution.
For boat manufacturers like Twin Vee, maintaining adequate working capital is essential given the industry's capital-intensive nature and seasonal fluctuations. While this capital raise will provide additional financial flexibility, the lack of specific growth initiatives or strategic acquisitions mentioned in the use of proceeds could suggest the funding is needed more for operational purposes than expansion plans.
Investors should watch for the preliminary prospectus supplement which will contain critical details about the offering size, price, and potentially more specific information about how the company plans to deploy the capital.
FORT PIERCE, FL / ACCESS Newswire / May 8, 2025 / Twin Vee PowerCats Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced that it intends to offer to sell shares of common stock in an underwritten public offering. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the size or terms of the offering.
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 book-running manager for the offering.
The securities will be offered and sold pursuant to a shelf registration statement on Form S-3(File No. 333- 266858), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the "SEC") on August 15, 2022 and declared effective on August 24, 2022. The offering will be made only by means of a written prospectus. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering has been or will be filed with the SEC on its website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. Before investing in this offering, interested parties should read in their entirety the preliminary prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such preliminary prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Twin Vee PowerCats Co.
Twin Vee PowerCats Co. manufactures a range of boats designed for activities including fishing, cruising, and recreational use. Twin Vee PowerCats are recognized for their stable, 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™." The Company is located in Fort Pierce, Florida, and has been building and selling boats for 30 years. Learn more at twinvee.com.
Visit Twin Vee PowerCats Co. on Facebook, Instagram, and YouTube.
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 completion of the offering, the size of the offering and the 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, 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
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