Twin Vee PowerCats Co. (NASDAQ: VEEE), a manufacturer of power sport boats, has entered into a definitive agreement under which a subsidiary of USFM Corporation will merge with the company, while its Twin Vee and Bahama Boat Works marine business will be transferred into a privately held Delaware statutory trust. The transaction is intended to unlock shareholder value while providing greater strategic and financial flexibility for both businesses, according to a press release.
Existing shareholders will receive equity in the combined public company and contingent value rights tied to potential future distributions generated by the privatized marine business. Upon closing, the combined public company is expected to trade on the NYSE American, while the marine business will continue operating without interruption. The transaction, which has been approved by both companies’ boards of directors, is expected to close in the third quarter of 2026, subject to shareholder approval, regulatory approvals and 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(TM).” 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 strategic move allows Twin Vee to separate its public listing from its core marine operations, potentially attracting different investor bases. The contingent value rights offer existing shareholders a stake in future distributions from the privatized marine business, aligning incentives. For USFM, the merger provides access to public markets and Twin Vee’s brand equity. The transaction underscores a trend of companies restructuring to unlock value, as seen in other recent corporate actions. The completion of the deal in 2026 will depend on shareholder and regulatory approvals, with the companies expressing confidence in the benefits of the new structure.
For more details, see the full press release at https://ibn.fm/xhjxa. Learn more about Twin Vee PowerCats at twinvee.com and bahamaboatworks.com.
