Twin Vee PowerCats Co. Announces Sale of North Carolina Property
Twin Vee PowerCats Co. (Nasdaq:VEEE) announced the closing of the sale of its Marion, North Carolina commercial property on October 31, 2025, for a total consideration of $4,250,000. The 11.88-acre site at 100 Impact Drive includes a partially completed ~60,000 sq ft building and was previously intended for a Forza X1 manufacturing facility.
Sale terms: $500,000 cash at closing, plus $3,750,000 in installment payments with 5% accrued interest: $500,000 due 10/31/2026, $500,000 due 4/30/2027, and $2,750,000 due 10/31/2027. The company reported no debt or liens on the property and said the transaction will positively affect its balance sheet and capital allocation.
Twin Vee PowerCats Co. (Nasdaq:VEEE) ha annunciato la chiusura della vendita del suo immobile commerciale a Marion, North Carolina, il 31 ottobre 2025, per un controvalore totale di $4,250,000. Il sito di 11,88 acri in 100 Impact Drive comprende un edificio parzialmente completato di circa 60.000 sq ft e era precedentemente destinato a un impianto di produzione Forza X1.
Termini della vendita: $500,000 in contanti al closing, più $3,750,000 in pagamenti rateali con interessi maturati al 5%: $500,000 dovuti il 31/10/2026, $500,000 dovuti il 30/04/2027 e $2,750,000 dovuti il 31/10/2027. L'azienda ha riportato nessun debito o vincoli sull'immobile e ha detto che la transazione avrà un effetto positivo sul bilancio e sull'allocazione del capitale.
Twin Vee PowerCats Co. (Nasdaq:VEEE) anunció el cierre de la venta de su propiedad comercial en Marion, Carolina del Norte, el 31 de octubre de 2025, por un total de $4,250,000. El sitio de 11,88 acres en 100 Impact Drive incluye un edificio parcialmente terminado de ~60,000 sq ft y previamente estaba destinado a una instalación de fabricación de Forza X1.
Términos de la venta: $500,000 en efectivo al cierre, además de $3,750,000 en pagos a plazos con interés acumulado del 5%: $500,000 debido el 31/10/2026, $500,000 debido el 30/04/2027 y $2,750,000 debido el 31/10/2027. La compañía informó sin deudas ni gravámenes sobre la propiedad y dijo que la transacción afectará positivamente su balance y asignación de capital.
Twin Vee PowerCats Co. (나스닥:VEEE)은 2025년 10월 31일 마리온, 노스캐롤라이나주에 있는 상업용 부동산의 매각 종료를 발표했으며 총 매수 대금은 $4,250,000입니다. 11.88에이커의 부지(주소 100 Impact Drive)에는 부분적으로 완공된 약 60,000 제곱피트 규모의 건물이 포함되어 있으며 이전에는 Forza X1 제조 시설로 계획되었었습니다.
매각 조건: 현금으로 $500,000를 클로징 시 지급하고, 연 5%의 누적 이자와 함께 $3,750,000을 분할 상환합니다: $500,000은 2026년 10월 31일, $500,000은 2027년 4월 30일, $2,750,000은 2027년 10월 31일에 각각 지급됩니다. 회사는 부동산에 대한 부채나 유치권이 없다고 보고했으며, 거래가 대차대조표와 자본 배분에 긍정적인 영향을 미칠 것이라고 밝혔습니다.
Twin Vee PowerCats Co. (Nasdaq:VEEE) a annoncé la clôture de la vente de son bien immobilier commercial à Marion, en Caroline du Nord, le 31 octobre 2025, pour une contrepartie totale de $4,250,000. Le site de 11,88 acres situé au 100 Impact Drive comprend un bâtiment partiellement achevé d'environ 60,000 pi2 et était auparavant destiné à une installation de fabrication Forza X1.
Conditions de vente : $500,000 en espèces à la clôture, plus $3,750,000 en paiements échelonnés avec 5% d'intérêts accumulés : $500,000 dû le 31/10/2026, $500,000 dû le 30/04/2027, et $2,750,000 dû le 31/10/2027. La société a signalé aucune dette ou privilèges sur la propriété et a déclaré que la transaction affectera positivement son bilan et l'allocation de capital.
Twin Vee PowerCats Co. (Nasdaq:VEEE) gab den Abschluss des Verkaufs seiner Gewerbeimmobilie in Marion, North Carolina, am 31. Oktober 2025 bekannt, für eine Gesamtsumme von $4,250,000. Das 11,88 Hektar große Gelände in der 100 Impact Drive umfasst ein teilweise fertiggestelltes Gebäude von ca. 60,000 sq ft und war zuvor für eine Forza X1 Herstellungsanlage vorgesehen.
Verkaufskonditionen: $500,000 in bar bei Closing, zuzüglich $3,750,000 in Ratenzahlungen mit 5% aufgelaufenen Zinsen: $500,000 fällig am 31.10.2026, $500,000 fällig am 30.04.2027 und $2,750,000 fällig am 31.10.2027. Das Unternehmen meldete keine Schulden oder Belastungen auf dem Grundstück und sagte, die Transaktion werde sich positiv auf die Bilanz und die Kapitalallokation auswirken.
Twin Vee PowerCats Co. (بورصة ناسداك: VEEE) أعلنت إغلاق بيع ممتلكاتها التجارية في ماريون، كارولاينا الشمالية، في 31 أكتوبر 2025، مقابل إجمالي اعتبار قدره $4,250,000. الموقع البالغ 11.88 فدان في 100 Impact Drive يشمل مبنى شبه مكتمل بمساحة ~60,000 قدم مربع وكان مخصصًا سابقًا كمرفق تصنيع Forza X1.
شروط البيع: $500,000 نقدًا عند الإغلاق، بالإضافة إلى $3,750,000 كمدفوعات أقساط بفائدة تراكمية قدرها 5%: $500,000 مستحق في 31/10/2026، $500,000 مستحق في 30/04/2027، و$2,750,000 مستحق في 31/10/2027. ذكرت الشركة عدم وجود ديون أو امتيازات على العقار وذكرت أن المعاملة ستؤثر إيجاباً على ميزانيتها وتخصيص رأس المال.
- $4.25M total sale consideration
- Property had no debt or liens at sale
- Part payment structure includes 5% interest on deferred amounts
- Only $500k cash received at closing
- Major $2.75M payment deferred until 10/31/2027
- Staggered payments create collectibility and timing risk
FORT PIERCE, FL / ACCESS Newswire / November 3, 2025 / Twin Vee PowerCats Co. (Nasdaq:VEEE),("Twin Vee"), a manufacturer, distributor, and marketer of power sport boats, today announced the successful closing of the sale of the commercial property in Marion, North Carolina on October 31, 2025. The site was previously intended for the construction of a manufacturing facility for Twin Vee's subsidiary, Forza X1, Inc. According to the Company, the
Highland Myco Holdings, LLC, a North Carolina limited liability company, purchased the property located at 100 Impact Drive in Marion, North Carolina, encompassing approximately 11.88 acres and including a partially completed building totaling approximately 60,000 square feet.
"The sale of our Marion, North Carolina property allows us to streamline our capital allocation and further focus and invest in our core business operations and development pipeline," remarked Joseph Visconti, CEO and President of Twin Vee PowerCats Co.
The total consideration for the transaction was
About Twin Vee PowerCats Co.
Twin Vee PowerCats Co. manufactures a range of boats under the Twin Vee and Bahama Boats 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 Boats 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 positive impact of the sale of the Marion, North Carolina on the Company's balance sheet, continued improvements in capital allocation, and investment in the Company's core business operations and development pipeline.
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 realize the benefits of the sale of the Marion, North Carolina property, the Company's ability to continue improvements in capital allocation, the Company's ability to invest in its core business operations and development pipeline 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
What did Twin Vee (VEEE) sell on October 31, 2025 and for how much?
How much cash did Twin Vee (VEEE) receive at closing on the Marion property sale?
What is the installment schedule and interest on the VEEE property sale?
Will the Marion property sale affect Twin Vee (VEEE) balance sheet?
What size and features did the sold Marion property include in the VEEE transaction?
