Shares of Twin Vee PowerCats Co. (VEEE) are having a moment. The stock has been on a tear this week after the company unveiled a major corporate shakeup: a merger with a subsidiary of USFM Corporation, a developer of strategic mineral interests in Greenland, and a simultaneous spin-off of its core recreational boat business into a private company.
Let's talk numbers. After the announcement, Twin Vee closed Monday's regular trading session at $24.86 — a 415.77% jump. As of Wednesday premarket, shares were up another 10.21% at $42.44. The company's market cap now sits around $13.16 million. For context, the stock has traded between $4.22 and $128.02 over the past 52 weeks, and it's down 54.75% over the last 12 months. So, yeah, this is a big move.
Before all this, Twin Vee was in the business of making recreational watercraft — catamaran sport boats under the Twin Vee and Bahama Boat Works brands. Nothing too flashy, just solid boats. But now, the company is pivoting hard. Under the definitive agreement, Twin Vee will combine its public entity with the USFM subsidiary, while spinning off and privatizing its marine business.
What does that mean for shareholders? Existing investors are expected to receive equity in the combined public company, plus contingent value rights tied to the privatized boating business. So you get a piece of the new mineral-focused entity and a potential future payout if the boat business does well on its own.
The transaction is expected to close in the third quarter of 2026, pending customary closing conditions and regulatory approvals. It's a complex deal, but the market seems to like it — at least for now.
