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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 2, 2026
Twin
Vee PowerCats Co.
(Exact name of registrant as specified
in its charter)
| Delaware |
|
001-40623 |
|
27-1417610 |
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
3101 S. US-1
Ft.
Pierce, Florida 34982
(Address of principal executive offices)
(772) 429-2525
(Registrant’s
telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ |
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ |
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ |
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ |
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
| Common stock, par value $0.001 per share |
|
VEEE |
|
The Nasdaq Stock Market LLC
(The Nasdaq Capital Market) |
Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.
Item 3.01. Notice of Delisting or Failure to Satisfy
a Continued Listing Rule or Standard; Transfer of Listing.
On April 2, 2026, Twin Vee PowerCats Co. (the “Company”)
received written notice (the “Notification Letter”) from the staff of the Listing Qualifications Department (the “Staff”)
of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it no longer satisfies the $1.00 bid price requirement
set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires
listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to
meet the minimum bid price requirement exists if the deficiency continues for a period of thirty (30) consecutive business days (collectively,
the “Bid Price Rule”). Based on the closing bid price of the Company’s common stock, par value $0.001 per share (the
“Common Stock”), for the thirty (30) consecutive business days from February 18, 2026 to March 31, 2026, the Company no longer
satisfies the Bid Price Rule.
While companies are typically afforded a 180-calendar
day compliance period to comply with the Bid Price Rule, the Notification Letter stated that, pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iv),
the Company was not eligible for any compliance period specified in Nasdaq Listing Rule 5810(c)(3)(A) due to the fact that the Company
effected a reverse stock split over the prior one-year period. The Company effected a 1-for-10 reverse stock split on April 7, 2025.
The Notification Letter stated that the Company’s
securities will be subject to delisting from Nasdaq unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the
“Panel”) by April 9, 2026. Accordingly, the Company intends to timely request a hearing before the Panel, and at which point,
such timely request will automatically stay any further suspension or delisting action by Nasdaq pending the Panel’s decision. During
the appeal process with the Panel, the Common Stock will continue to be listed and trade on Nasdaq. There can be no assurance that the
Panel will grant the Company’s request for continued listing or that the Company will be able to regain compliance and thereafter
maintain its listing on Nasdaq.
The Company intends to actively monitor the bid price
of its Common Stock and is considering available options to regain compliance with the Nasdaq listing requirements, including such actions
as effecting a reverse stock split to maintain its Nasdaq listing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: April 3, 2026 |
TWIN VEE POWERCATS CO. (Registrant) |
| |
|
| |
By: |
/s/ Joseph Visconti |
| |
Name: |
Joseph Visconti |
| |
Title: |
Chief Executive Officer and President |
