Twin Vee PowerCats Announces Withdrawal of Proposed Public Offering
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.
Positive
- None.
Negative
- None.
News Market Reaction – VEEE
In the Mar 10 session, VEEE declined 8.21%, reflecting a notable negative market reaction. Argus tracked a peak move of +27.3% during that session. Argus tracked a trough of -33.5% from its starting point during tracking. Our momentum scanner triggered 45 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Offering Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 23 | Offering closing | Negative | -2.1% | Closed 6,383,000-share offering at $0.47, raising about $3.0M. |
| Feb 19 | Offering pricing | Negative | -51.9% | Priced 6,383,000-share best-efforts offering at $0.47 per share. |
| May 12 | Offering closing | Negative | -6.3% | Closed 750,000-share offering at $4.00 for $3M gross proceeds. |
| May 08 | Offering pricing | Negative | -53.8% | Priced 750,000-share offering at $4.00 aiming to raise $3M. |
| May 08 | Offering announcement | Negative | -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.
Offering-related headlines have consistently seen negative next-day reactions, with an average move of about -33.6% across the past five events.
Over the past year, VEEE has repeatedly tapped equity markets. In May 2025, it priced and closed a 750,000-share offering at $4.00, followed in February 2026 by a best-efforts offering of 6,383,000 shares at $0.47. Each step in this financing sequence generated negative price reactions, with the five offering-tagged events averaging a -33.6% move, underscoring investor sensitivity to dilution-related news ahead of this withdrawn offering.
Key Terms
public offering financial
common stock financial
forward-looking statements regulatory
registration regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
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