Twin Vee PowerCats (VEEE) Registration Filing summary

Company overview and business model

• Designs, manufactures, and markets recreational and commercial power boats, focusing on twin-hull catamaran and monohull models under two brands, with operations based in Fort Pierce, Florida.

• Employs about 70 people and operates a 100,000 sq. ft. facility, including a recent 30,000 sq. ft. expansion.

• Sells boats through a network of 17 independent dealers across North America, Hawaii, and Australia, with ongoing efforts to expand dealer and distributor relationships.

• Acquired Bahama Boat Works assets in June 2025, adding new monohull models and contingent consideration based on future sales.

• Developing Wizz Banger, an AI-driven marine retail and valuation platform, and launched Black Line Defense for manned and autonomous maritime platforms targeting defense and security markets.

Financial performance and metrics

• Revenue from boat sales accounted for nearly 100% of net revenue in 2025 and 2024.

• In 2025, two dealers represented 27% of total sales; in 2024, three dealers represented 40%.

• Completed a $3.0 million underwritten public offering in May 2025 and a $2.54 million best efforts public offering in February 2026.

• Sold a North Carolina property for $500,000 upfront and $3.75 million in future installments.

Use of proceeds and capital allocation

• Net proceeds from securities sales are intended primarily for general corporate purposes, with broad discretion retained by management.

• Pending use, proceeds may be invested in short-term, interest-bearing securities.