Twin Vee Powercats stock plummeted 49% due to discounted stock issuance

LootboxPhobia · 2026-02-20T18:18:27+00:00

Twin Vee Powercats Co announces the public offering of 6.383 million common shares at a price of $0.47 per share, resulting in a 48.5% drop in stock price in pre-market trading. The offering is expected to raise approximately $3 million, primarily for working capital and corporate purposes.

LootboxPhobia

2026-02-20 18:18:27

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Investing.com - Twin Vee Powercats Co (NASDAQ:VEEE) stock dropped 48.5% in pre-market trading on Friday after the company announced a pricing of its public offering at $0.47 per share.

The manufacturer, dealer, and marketer of power sport boats announced the pricing of 6.383 million common shares on a best-efforts basis. Before deducting underwriting discounts and other offering expenses, the total proceeds from the offering are expected to be approximately $3 million.

The offering is expected to close on February 23, 2026, subject to customary closing conditions. ThinkEquity is serving as the exclusive bookrunner for the offering.

The company plans to use the net proceeds primarily for working capital and general corporate purposes. Twin Vee manufactures a range of boats under the Twin Vee and Bahama Boat Works brands.

Twin Vee PowerCats are designed for activities such as fishing, cruising, and recreation, and are known for their catamaran hull design. Bahama Boat Works produces offshore fishing boats.

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