USFM Corp., a privately held, U.S.-based mineral exploration company advancing critical mineral opportunities in Greenland, and Twin Vee PowerCats Co., announced today that they have amended their definitive merger agreement for USFM’s pending business combination with Twin Vee, which was initially entered into July 12.
A press release stated:
“The amended merger agreement, amongst other changes, reflects a revised transaction structure, includes a requirement for USFM to use reasonable best efforts to seek to close an up to $5 million private investment in public equity (PIPE) investment, and reflects a reduction in the post-closing stock split for the combined company from 90% preclosing USFM stockholders/10% preclosing Twin Vee stockholders under the initial merger agreement to 93% preclosing USFM stockholders/7% preclosing Twin Vee stockholders under the amended merger agreement. Other key terms of the July 12, 2026, initial merger agreement remain unchanged.”
The amended transaction terms are intended to unlock value for stockholders, provide the operating business with greater strategic and financial flexibility, and position both businesses for their next phase of growth, according to the release.
