M&A: Twin Vee PowerCats, Co.

Form Type: SCHEDULE 13D

Filing Date: 2025-01-03

Corporate Action: Merger

Type: New

Accession Number: 000173112225000008

Comments: The document reports on the beneficial ownership of shares by Joseph C. Visconti, Chairman of the Board and CEO of Twin Vee PowerCats Co. As of December 31, 2024, he beneficially owns 20.8% of the company's common stock, which totals 3,271,854 shares. This percentage is based on 14,874,480 shares issued and outstanding. The report details that shares were acquired through personal purchase, compensation, and notably as merger consideration from two significant mergers: (1) the merger of Twin Vee Powercats, Inc. with Twin Vee PowerCats Co. effective November 29, 2022, and (2) the merger of Twin Vee Merger Sub, Inc. with Forza X1, Inc., effective November 26, 2024. The report emphasizes that no transactions in securities of the Issuer occurred in the last 60 days and confirms no other persons have rights to dividends or sales proceeds from his holdings.

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