Twin Vee PowerCats Announces Withdrawal of Proposed Public Offering

Twin Vee PowerCats (NASDAQ:VEEE) announced the withdrawal of its proposed public offering of common stock on March 9, 2026.

Rhea-AI Summary

Twin Vee PowerCats (NASDAQ:VEEE) announced the withdrawal of its proposed public offering of common stock on March 9, 2026. The company said there will be no sale or solicitation in any jurisdiction where unlawful prior to registration or qualification. The release reiterates forward-looking statement cautions and corporate contact information.

Argus Mar 10 session

-8.21% close to close Open Argus

Details

News Market Reaction – VEEE

In the Mar 10 session, VEEE declined 8.21%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -8.2% in the session following this news. A negative reaction despite the withdrawal...

Analysis

The stock moved -8.2% in the session following this news. A negative reaction despite the withdrawal of a proposed offering would fit a pattern where capital-structure headlines have weighed on VEEE, with prior offering news averaging a -33.6% next-day move. The company maintains an effective shelf and has recently used it via a 424B5, so the market may have focused on ongoing financing needs rather than viewing this withdrawal as lasting dilution relief.

Key Figures

Shelf registration capacity: $100,000,000 Feb 2026 shares offered: 6,383,000 shares Feb 2026 offer price: $0.47 per share +5 more

Shelf registration capacity

$100,000,000

S-3 shelf filed March 2, 2026 for mixed securities

Feb 2026 shares offered

6,383,000 shares

Best-efforts public offering closed Feb 23, 2026

Feb 2026 offer price

$0.47 per share

Best-efforts public offering pricing

Feb 2026 gross proceeds

$3.0 million

Best-efforts public offering completed Feb 23, 2026

May 2025 shares offered

750,000 shares

Underwritten public offering closed May 12, 2025

May 2025 offer price

$4.00 per share

Underwritten public offering pricing

May 2025 gross proceeds

$3 million

Underwritten public offering completed May 12, 2025

Reverse stock split ratio

1-for-10

Reverse split effective April 7, 2025

Previous Offering Reports

5 past events · Latest: Feb 23

Same Type 5 events

1. Feb 23

   Offering closing

   24h Move

   -2.1%

   Closed 6,383,000-share offering at $0.47, raising about $3.0M.

2. Feb 19

   Offering pricing

   24h Move

   -51.9%

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

3. May 12

   Offering closing

   24h Move

   -6.3%

   Closed 750,000-share offering at $4.00 for $3M gross proceeds.

4. May 08

   Offering pricing

   24h Move

   -53.8%

   Priced 750,000-share offering at $4.00 aiming to raise $3M.

5. May 08

   Offering announcement

   24h Move

   -53.8%

   Announced planned underwritten public offering under an existing shelf.

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

Key Terms

public offering, common stock, forward-looking statements, registration

4 terms

public offering financial

"announced the withdrawal of the proposed public offering of shares of common stock."

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.

common stock financial

"withdrawal of the proposed public offering of shares of common stock."

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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.

registration regulatory

"unlawful prior to registration or qualification under the securities laws"

Registration is the formal filing or listing of a company, security, product, or document with a government or regulatory agency so it may be legally offered, sold, or publicly disclosed. Think of it like registering a car before you can drive it: it creates official records, requires certain disclosures, and signals that regulators have at least reviewed basic information. Investors care because registration increases transparency, enables trading or market access, and can materially affect a company’s liquidity, fundraising options, and regulatory risk.

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

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FORT PIERCE, FL / ACCESS Newswire / March 9, 2026 / Twin Vee PowerCats Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced the withdrawal of the proposed public offering of shares of common stock.

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 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.

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.

Why did Twin Vee PowerCats (VEEE) withdraw its proposed public offering on March 9, 2026?

The company withdrew the proposed offering and will not proceed with the sale at this time. According to Twin Vee, the withdrawal means no sale or solicitation will occur where registration or qualification would be unlawful, and the company reiterated routine forward-looking disclaimers.

Does the withdrawal of the VEEE proposed offering mean Twin Vee PowerCats will not raise capital?

The withdrawal cancels that specific proposed offering but does not state alternate plans. According to Twin Vee, this announcement only withdraws the proposed public offering; it does not describe future financing or capital-raising intentions.

How does Twin Vee PowerCats describe its business after withdrawing the VEEE offering?

Twin Vee describes itself as a manufacturer and marketer of power sport catamaran boats. According to Twin Vee, it sells Twin Vee and Bahama Boat Works boats, highlights 30 years in Fort Pierce, Florida, and notes its brands' design and craftsmanship attributes.

Will Twin Vee PowerCats (VEEE) update investors after the withdrawal of the proposed offering?

The company did not commit to future updates beyond required disclosures. According to Twin Vee, the information is provided as of the release date and it undertakes no obligation to update forward-looking statements except as required by law.

Where can investors get more information about Twin Vee PowerCats (VEEE) following the offering withdrawal?

Investors can visit the company's websites and review SEC filings for details and risk factors. According to Twin Vee, further information is available at twinvee.com and bahamaboatworks.com and in its Form 10-K, Form 10-Q, and Form 8-K filings.