Twin Vee PowerCats, Co. 8-K/A

What Happened

• Twin Vee PowerCats Co. (VEEE) announced a registered best‑efforts offering under a Placement Agency Agreement with ThinkEquity LLC. The company agreed on February 19, 2026 to sell 6,383,000 shares of common stock at $0.47 per share; the offering closed on February 23, 2026 and generated approximately $3.0 million in gross proceeds.
• As compensation, ThinkEquity received a cash fee equal to 7% of gross proceeds, a non‑accountable expense allowance equal to 1% of gross proceeds, and reimbursement of certain expenses of $50,000. The company also issued placement agent warrants to purchase 319,150 shares (5% of the offering), exercisable immediately for five years.
• The shares and warrants were sold under an effective Form S‑1 (declared effective February 13, 2026) and the company filed related prospectus materials. Officers and directors agreed to a customary three‑month lock‑up from February 23, 2026.

Key Details

• Shares sold: 6,383,000 common shares at $0.47/share (closed Feb 23, 2026).
• Gross proceeds: approximately $3.0 million (before fees and expenses).
• Placement agent compensation: 7% cash fee, 1% non‑accountable expense allowance, $50,000 expense reimbursement; warrants to buy 319,150 shares (5%) exercisable for 5 years.
• Use of proceeds: intended for working capital and general corporate purposes.

Why It Matters

• The raise provides Twin Vee with additional liquidity (about $3.0M gross) to fund operations and corporate needs. Net proceeds will be reduced by placement agent fees, expense allowance and reimbursements disclosed in the filing.
• The issuance increases the share count immediately and could increase outstanding shares further if the placement agent’s warrants are exercised, which may dilute existing shareholders.
• A three‑month lock‑up limits insider selling in the near term, which may affect share supply over that period.

(Information from Twin Vee PowerCats’ Form 8‑K filed February 24, 2026.)