Twin Vee PowerCat (VEEE) IPO Opens 12% Higher

Today's IPO for Twin Vee PowerCats, Co. (NASDAQ: VEEE) opened for trading at $6.70 after pricing 3,000,000 shares of its common stock at a public offering price of $6.00 per share.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.

Twin Vee is a designer, manufacturer and marketer of recreational and commercial power catamaran boats. Founded in 1996, the Company has been an innovator in the recreational and commercial power catamaran industry. The Company currently has ten (10) gas-powered models in production ranging in size from its 24-foot, dual engine, center console to its newly designed 40-foot offshore 400 GFX. The Company's 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 of operations is a 7.5-acre facility in Fort Pierce, Florida.

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