Twin Vee PowerCats (VEEE) Prices 2.5M Shares at $2.75

Twin Vee PowerCats Co. (NASDAQ: VEEE) announced the pricing of its underwritten public offering of 2,500,000 shares of its common stock at a public offering price of $2.75 per share, for gross proceeds of $6,875,000, before deducting underwriting discounts, commissions and offering expenses. All of the shares of common stock are being offered by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 375,000 shares of common stock at the public offering price less discounts and commissions, to cover over-allotments. The offering is expected to close on October 3, 2022, subject to satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the offering primarily for product development and general corporate purposes, which may include working capital, capital expenditures, operational purposes and potential acquisitions in complementary businesses.

ThinkEquity is acting as sole book-running manager for the offering.

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