Twin Vee PowerCats Co. (NASDAQ: VEEE) saw its shares surge more than 370% Monday following the announcement of a definitive agreement under which a subsidiary of USFM Corporation will merge with Twin Vee, while its marine business will be separated into a privately held Delaware statutory trust. The transaction is designed to unlock shareholder value while providing greater strategic and financial flexibility for the Twin Vee and Bahama Boat Works brands.
According to reporting by Emily Jarvie of Proactive, existing shareholders will receive equity in the combined public company along with contingent value rights tied to potential future distributions from the marine business. Following the merger, 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 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. Twin Vee is one of the most recognizable brand names in the catamaran sport boat category and is known as the “Best Riding Boats on the Water.” Bahama Boat Works is an iconic luxury brand long celebrated for its unmatched craftsmanship, timeless aesthetic, 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.
This announcement is significant for investors as it represents a strategic move to separate the marine operations, potentially unlocking value for shareholders through the public listing of the combined entity and the contingent value rights. The sharp increase in share price reflects market optimism about the deal’s potential to enhance financial flexibility and brand focus. The transaction underscores a trend of corporate restructuring aimed at maximizing shareholder returns in the marine industry.
For more information about Twin Vee PowerCats, visit twinvee.com and bahamaboatworks.com.
