Twin Vee PowerCats

General Information
Business:

Twin Vee PowerCats Co. is a designer, manufacturer and marketer of recreational and commercial power catamaran boats. We believe our company, founded in 1996, has been an innovator in the recreational and commercial power catamaran industry. We have 10 gas-powered models inT production ranging in size from our 24-foot dual-engine, center console to our newly designed 40-foot offshore 400 GFX and two additional gas-powered models being marketed now for delivery in one to three months. Our twin-hull catamaran running surface, known as a symmetrical catamaran hull design, adds to the Twin Vee ride quality by reducing drag, increasing fuel efficiency and offering users a stable riding boat. Twin Vee’s home base operations in Fort Pierce, Florida, is a 7.5-acre facility with several buildings totaling over 75,000 square feet. We employ approximately 85 people, some of whom have been with our company for over 20 years.

We primarily sell our boats through a current network of 10 independent boat dealers in 14 locations across North America and the Caribbean who resell our boats to the end user Twin Vee customers. 

Twin Vee boats are currently outfitted with gas-powered outboard combustion engines. Due to the growing demand for sustainable, environmentally friendly electric and alternative fuel commercial and recreational vehicles. Twin Vee has begun designing and developing products under the name “Electra Power Sports” or “ELECTRA”. We are developing a line of electric-powered catamaran boats ranging in size from 18-feet to 28-feet. 

(Note: Twin Vee PowerCats upsized its IPO at pricing on July 20, 2021: The IPO was priced at $6 – the top of its $5-to-$6 range – on 3 million shares, up from 2.8 million shares in the prospectus, to raise $18 million.)  

Industry: Power boats
Employees: 85
Founded: 1996
Contact Information
Address 3101 S. US-1 Ft. Pierce, Florida 34982
Phone Number (772) 429-2525
Web Address http://www.twinvee.com/
View Prospectus: Twin Vee PowerCats
Financial Information
Market Cap $37.4mil
Revenues $11.6 mil (last 12 months)
Net Income $1.2 mil (last 12 months)
IPO Profile
Symbol VEEE
Exchange NASDAQ
Shares (millions): 3.0
Price range $6.00 - $6.00
Est. $ Volume $18.0 mil
Manager / Joint Managers ThinkEquity
CO-Managers -
Expected To Trade: 7/21/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change