Twin Vee PowerCats Co. Announces Closing of Public Offering
Twin Vee PowerCats Co. (NASDAQ:VEEE) has completed a public offering of 750,000 shares of common stock at $4.00 per share, raising total gross proceeds of $3 million. The company, which manufactures and distributes power sport boats, plans to use the net proceeds for working capital and general corporate purposes. The offering was managed by ThinkEquity as the sole book-runner and was conducted under a shelf registration statement filed with the SEC.
Twin Vee PowerCats, based in Fort Pierce, Florida, has been building boats for 30 years and is known for its stable, efficient catamaran hull designs in the sport boat category. The company markets itself as the "Best Riding Boats on the Water™".
Twin Vee PowerCats Co. (NASDAQ:VEEE) ha completato un'offerta pubblica di 750.000 azioni ordinarie a 4,00 dollari per azione, raccogliendo un ricavo lordo totale di 3 milioni di dollari. L'azienda, che produce e distribuisce barche sportive a motore, intende utilizzare il ricavato netto per il capitale circolante e scopi aziendali generali. L'offerta è stata gestita da ThinkEquity come unico book-runner ed è stata effettuata nell'ambito di una dichiarazione di registrazione a scaffale depositata presso la SEC.
Twin Vee PowerCats, con sede a Fort Pierce, Florida, costruisce barche da 30 anni ed è nota per i suoi scafi catamarani stabili ed efficienti nella categoria delle barche sportive. L'azienda si promuove come le "Migliori barche da guida sull'acqua™".
Twin Vee PowerCats Co. (NASDAQ:VEEE) ha completado una oferta pública de 750,000 acciones ordinarias a $4.00 por acción, recaudando un total bruto de $3 millones. La compañía, que fabrica y distribuye barcos deportivos a motor, planea utilizar los ingresos netos para capital de trabajo y propósitos corporativos generales. La oferta fue gestionada por ThinkEquity como único book-runner y se realizó bajo un registro en estantería presentado ante la SEC.
Twin Vee PowerCats, con sede en Fort Pierce, Florida, ha estado construyendo barcos durante 30 años y es conocida por sus diseños de cascos catamarán estables y eficientes en la categoría de barcos deportivos. La empresa se promociona como los "Mejores barcos para navegar™".
Twin Vee PowerCats Co. (NASDAQ:VEEE)는 750,000주의 보통주를 주당 4.00달러에 공개 발행하여 총 300만 달러의 총 수익을 올렸습니다. 이 회사는 모터 스포츠 보트를 제조 및 유통하며, 순수익을 운전자본 및 일반 기업 목적에 사용할 계획입니다. 이번 공모는 ThinkEquity가 단독 주간사로 관리했으며, SEC에 제출된 선반 등록 명세서에 따라 진행되었습니다.
플로리다주 포트피어스에 본사를 둔 Twin Vee PowerCats는 30년간 보트를 제작해 왔으며, 스포츠 보트 부문에서 안정적이고 효율적인 쌍동선 선체 디자인으로 잘 알려져 있습니다. 회사는 스스로를 "물 위에서 최고의 승차감을 제공하는 보트™"라고 홍보합니다.
Twin Vee PowerCats Co. (NASDAQ:VEEE) a réalisé une offre publique de 750 000 actions ordinaires au prix de 4,00 $ par action, levant ainsi un produit brut total de 3 millions de dollars. La société, qui fabrique et distribue des bateaux de sport motorisés, prévoit d'utiliser le produit net pour le fonds de roulement et des fins générales d'entreprise. L'offre a été gérée par ThinkEquity en tant que seul chef de file et a été réalisée dans le cadre d'une déclaration d'enregistrement sur étagère déposée auprès de la SEC.
Twin Vee PowerCats, basée à Fort Pierce, en Floride, construit des bateaux depuis 30 ans et est reconnue pour ses coques catamarans stables et efficaces dans la catégorie des bateaux de sport. La société se présente comme les « Meilleurs bateaux pour la conduite sur l'eau™ ».
Twin Vee PowerCats Co. (NASDAQ:VEEE) hat eine öffentliche Platzierung von 750.000 Stammaktien zu 4,00 USD pro Aktie abgeschlossen und dabei einen Bruttoerlös von 3 Millionen USD erzielt. Das Unternehmen, das Power-Sportboote herstellt und vertreibt, plant, die Nettoerlöse für das Betriebskapital und allgemeine Unternehmenszwecke zu verwenden. Das Angebot wurde von ThinkEquity als alleinigem Bookrunner verwaltet und im Rahmen einer bei der SEC eingereichten Shelf-Registration durchgeführt.
Twin Vee PowerCats mit Sitz in Fort Pierce, Florida, baut seit 30 Jahren Boote und ist bekannt für seine stabilen und effizienten Katamaran-Rumpfdesigns in der Sportboot-Kategorie. Das Unternehmen vermarktet sich als die "Besten Fahrboote auf dem Wasser™".
- Successful completion of public offering raising $3 million in gross proceeds
- Funds will strengthen working capital position
- Offering conducted through established shelf registration, showing regulatory compliance
- Share offering will cause dilution for existing shareholders
- Relatively small offering size may indicate limited growth potential or investor interest
Insights
Twin Vee raised $3M through share offering at $4.00, diluting existing shareholders while securing working capital for operations.
Twin Vee PowerCats has completed a modest $3 million capital raise through a public offering of 750,000 shares priced at $4.00 each. This financing move merits careful analysis, as it represents approximately
The offering was conducted through a shelf registration filed in August 2022, suggesting the company had anticipated potential capital needs for some time. ThinkEquity's role as sole book-runner indicates a targeted, streamlined approach to raising this relatively small sum, which could reflect limited institutional interest or the company's desire to minimize costs associated with a larger banking syndicate.
For investors, this capital infusion provides Twin Vee with operational runway but comes at the cost of ownership dilution. The $4.00 per share price point requires scrutiny relative to recent trading patterns—capital raises often occur at discounts to market prices, which can pressure short-term share performance. The lack of specific plans for the proceeds beyond general working capital could indicate either operational cash flow challenges or tactical financial flexibility for the boat manufacturer amid uncertain market conditions in the recreational marine sector.
FORT PIERCE, FL / ACCESS Newswire / May 12, 2025 / 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 underwritten public offering of 750,000 shares of its common stock. Each share of common stock was sold at a public offering price of
The Company intends to use the net proceeds from the offering primarily for working capital and general corporate purposes.
ThinkEquity acted as the sole book-running manager for the offering.
The securities were 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, along with a final prospectus supplement, dated May 8, 2025. The offering was made only by means of a written prospectus. The final prospectus supplement and accompanying base prospectus describing the terms of the offering was filed with the SEC on May 12, 2025 and is available on its website at www.sec.gov. Copies of the final 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.
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 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 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 final prospectus supplement, 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, Inc.
View the original press release on ACCESS Newswire
FAQ
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