Twin Vee PowerCats Co. (NASDAQ: VEEE), a manufacturer and distributor of power sport boats, has announced the pricing of its public offering of 4,473,000 shares of common stock at a price of $0.38 per share. The offering, which is being conducted on a best-efforts basis through ThinkEquity LLC as the sole placement agent, is expected to close on March 17, 2026. The company anticipates gross proceeds of approximately $1.7 million from the offering, before deducting placement agent fees and other expenses. The net proceeds from the offering will primarily be used for working capital and general corporate purposes. As part of the compensation for the placement agent, Twin Vee will pay a cash fee of 7% of the gross proceeds and issue warrants to purchase 223,650 shares of common stock, which represents 5% of the shares sold in the offering. The company has also entered into lock-up agreements with its executive officers and directors, restricting them from selling their shares for a period of three to six months following the offering. This public offering is part of Twin Vee's strategy to enhance its liquidity and support its operational needs as it continues to grow in the competitive power sport boat market.

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