Twin Vee PowerCats Stock Skyrockets 370% on Merger Deal

Twin Vee PowerCats Co. (NASDAQ: VEEE) saw its shares surge over 370% on Monday after announcing a definitive agreement to merge with a subsidiary of USFM Corporation. The deal involves separating Twin Vee's marine business into a privately held Delaware statutory trust, while existing shareholders receive equity in the combined public company and contingent value rights tied to potential future distributions from the marine business. According to reporting by Emily Jarvie of Proactive, the transaction aims to unlock shareholder value and provide greater strategic and financial flexibility for the Twin Vee and Bahama Boat Works brands. The combined company is expected to trade on the NYSE American, with the transaction anticipated to close in the third quarter of 2026, subject to customary closing conditions.

Twin Vee PowerCats Co. manufactures a range of boats under the Twin Vee and Bahama Boat Works brands, designed for activities including fishing, cruising, and recreational use. Twin Vee PowerCats are recognized for their stable, fuel-efficient, smooth-riding catamaran hull designs, earning the reputation as the “Best Riding Boats on the Water.” Bahama Boat Works is an iconic luxury brand celebrated for its unmatched craftsmanship and dedication to producing some of the finest offshore fishing vessels. The Company is located in Fort Pierce, Florida, and has been building and selling boats for 30 years. The announcement comes via InvestorWire, a specialized communications platform within IBN's Dynamic Brand Portfolio, which provides press release syndication and corporate communications solutions. InvestorWire is powered by IBN and offers services including editorial syndication to 5,000+ outlets and social media distribution.