Florida-based Twin Vee PowerCats yesterday announced the closing of its public offering of 6.383 million shares of common stock. Each share was sold at a public offering price of $0.47, for gross proceeds of approximately $3 million, before deducting placement agent fees and other expenses.
Twin Vee said it “intends to use the net proceeds from the offering primarily for working capital and general corporate purposes,” according to a company statement.
The offering was made only by means of a prospectus. The final prospectus was filed with the SEC. ThinkEquity was the sole placement agent for the offering.
