Twin Vee PowerCats Raises $3M in Public Offering for Working Capital

Twin Vee PowerCats Co. (Nasdaq: VEEE) said it closed a public offering on Feb. 23, 2026 that raised gross proceeds of approximately $3.0 million by selling 6,383,000 shares of common stock at $0.47 per share. The company said it "intends to use the net proceeds from the offering primarily for working capital and general corporate purposes."

ThinkEquity acted as the sole placement agent and sole book-running manager on the deal, and the company filed a final prospectus with the SEC, with TradeOnlyToday noting the sale was "before deducting placement agent fees and other expenses." TradeOnlyToday also identified Twin Vee as Florida-based in its closing notice and reiterated the prospectus requirement for the offering.

Market reaction around the offering was sharp. Ainvest calculated the $0.47 offering price as a 53% discount to the stock's previous close of $0.9364 and reported the shares fell to $0.4391 on heavy volume of 3.8 million shares in a single day. Ainvest described the event bluntly: "This isn't a quiet capital raise; it's a headline event signaling deep trouble," and listed items to watch including final settlement, management commentary, used-boat absorption rates and Q1 earnings as potential catalysts.

A conflicting pricing notice published by Sahmcapital appears in the public record and must be reconciled with the Feb. 23, 2026 close. Sahmcapital published an item saying Twin Vee priced an underwritten offering of 750,000 shares at $4.00 per share, for total gross proceeds of $3,000,000, and that "The offering is expected to close on May 12, 2025, subject to satisfaction of customary closing conditions." Both the Sahmcapital item and the Feb. 23 closing report present $3.0 million as gross proceeds, but the share counts, per-share prices and closing dates differ sharply.

The company release includes standard forward-looking language about risks and updates, noting that "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." Twin Vee's investor materials reference its SEC filings for risk factors and further detail.

With gross proceeds reported at approximately $3.0 million and ThinkEquity named as manager, the near-term story for owners and dealers will be whether settlement confirms the full raise, how underwriting and placement-agent fees reduce net proceeds, and whether used-boat inventory absorption and upcoming quarterly results can steady a stock that traded at a fraction of its prior close during the offering period.