Twin Vee PowerCats Co. Announces 1-for-37 Reverse Stock Split to Regain Nasdaq Compliance

Key Highlights for Investors

• Reverse Stock Split: Twin Vee PowerCats Co. (Nasdaq: VEEE) has announced a 1-for-37 reverse stock split of its issued and outstanding common stock, effective at 12:01 a.m. Eastern Time on May 4, 2026.
• Trading on Split-Adjusted Basis: Trading on a split-adjusted basis will begin on The Nasdaq Capital Market on Monday, May 4, 2026, under the same ticker symbol, “VEEE”.
• Share Reduction: The number of outstanding shares will dramatically decrease from approximately 19.6 million to around 0.5 million shares.
• Authorized Shares: The total number of authorized common shares will be cut from 50.0 million to about 13.5 million.
• No Impact on Preferred Stock: The reverse split does not affect the authorized shares or terms of the company’s preferred stock.
• Fractional Shares: Fractional shares resulting from the split will be rounded up to the nearest whole share—no fractional shares will be issued.
• Equity Incentive Plans Affected: The number of shares available under equity incentive plans, and the exercise price and number of shares underlying outstanding options, warrants, and other equity awards will be adjusted proportionately.
• New CUSIP Number: The company’s common stock will have a new CUSIP number: 90177C 309.
• Exchange Agent: Equiniti Trust Company LLC will act as the exchange agent for the reverse stock split.
• Automatic Adjustment: Shareholders holding shares in book-entry form or through brokers will have their positions automatically adjusted—no action required on their part.
• Purpose: The Board initiated the reverse split to regain compliance with Nasdaq’s minimum bid price requirement and to potentially broaden investor interest.

Details Investors Should Note

The reverse stock split is a significant development for Twin Vee PowerCats Co. and its shareholders. The move comes as the company seeks to ensure continued compliance with the minimum bid price requirement for maintaining its listing on The Nasdaq Capital Market. Failure to maintain compliance could ultimately result in delisting, which typically has a highly negative impact on share price and liquidity.

By reducing the number of outstanding shares and authorized shares, the company is aiming to increase its share price proportionally. This can make the stock more attractive to institutional investors and funds that often have minimum price requirements for investments.

Importantly, the reverse split will not alter any shareholder’s percentage ownership in the company, except for adjustments relating to fractional shares, which will be rounded up. This means the action is primarily administrative and strategic, rather than dilutive.

The company has also taken steps to ensure that all equity incentive plans and outstanding awards are adjusted so that the economic value for employees and holders is preserved post-split.

The company’s business operations remain unchanged, with Twin Vee PowerCats continuing to manufacture boats under its established brands, Twin Vee and Bahama Boat Works. The company is headquartered in Fort Pierce, Florida, and has been in operation for 30 years, recognized for its stable, fuel-efficient catamaran sport boats and luxury offshore fishing vessels.

Potential Share Price Impact

The announcement is highly price-sensitive:

• Regaining Nasdaq compliance is typically a positive signal for investors, as continued listing ensures liquidity and access to a wider investor base.
• A substantial reverse split (1-for-37) may be viewed negatively by some investors as it often follows a period of share price weakness. However, it may also attract new investors due to a higher post-split share price.
• Reduced share count and float can affect trading dynamics and volatility in the short term.

Forward-Looking Statements and Risks

The company cautions that this announcement contains forward-looking statements, including expectations around the timing and effectiveness of the reverse split and regaining compliance with Nasdaq listing requirements. Actual results could differ due to various risks and uncertainties, including necessary approvals and other risk factors outlined in the company’s SEC filings.

Contact Information

For further information, investors may contact Glenn Sonoda at [email protected].

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult with professional advisors before making investment decisions. The information is based on the company’s public filings and press releases as of the date of the announcement. The company undertakes no obligation to update forward-looking statements except as required by law.

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