Twin Vee PowerCats Co, a power catamaran boats manufacturer, has filed Amendment No 1 to Form S-1 Registration Statement on June 2, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $15 million by offering 2.8 million shares at a price range of $5 to $6. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $37 million.
The company allows consumers to use their boats for a wide range of recreational activities including fishing, diving and water skiing and commercial activities including transportation, eco-tours, fishing and diving expeditions.
The Fort Pierce, Florida-based company was founded in 2009 and booked $11 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq Capital Market under the symbol “VEEE.” ThinkEquity is the underwriters of the IPO.
The company engages Gracin & Marlow, LLP, as US Securities Counsel, and Grassi & Co., CPAs, P.C. as Independent Auditor.
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