---
schema_version: "secwatch.filing_event.v1"
accession: "0001731122-23-000836"
form_type: "8-K"
ticker: "VEEE"
cik: "0001855509"
company_name: "Twin Vee PowerCats, Co."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T10:08:27.881417+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Twin Vee PowerCats signs lease-option to buy Aquasport brand and 150K sq ft factory for $3.1M

## Summary
- Agreement with Ebbtide Corp gives right to purchase Aquasport trademarks, 18.5-acre TN facility, tooling for 5 boat models.
- Purchase price $3.1M; $300K security deposit paid; monthly lease $22K with $16K credited toward purchase.
- Lease-option term is 5 years starting June 1, 2023; one renewal option for 5 more years.
- Twin Vee will take physical control June 1, 2023; plans to restart production and expand product line to monohull boats.
- Acquisition expands Twin Vee's production capacity and dealer network; Aquasport is a decades-old recreational marine brand.

## SEC filing metadata
- accession: 0001731122-23-000836
- form_type: 8-K
- ticker: VEEE
- cik: 0001855509
- company_name: Twin Vee PowerCats, Co.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1855509/000173112223000836/0001731122-23-000836-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855509/000173112223000836/e4676_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001731122-23-000836
- JSON: https://secwatch.observer/filing/0001731122-23-000836.json
- Plain text: https://secwatch.observer/filing/0001731122-23-000836.txt

## Key facts
- Material Agreements
  Twin Vee PowerCats, Co. entered into Agreement with Ebbtide Corporation valued at $3,100,000 (effective 2023-05-05).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Ebbtide Corporation
  - Value: $3,100,000
  - Effective: 2023-05-05
  source text: Item 1.01. Entry into a Material Definitive Agreement. On May 5, 2023, Twin Vee PowerCats Co. (the “Company”), the Company’s newly formed subsidiary, AquaSport Co., a Florida corporation (“AquaSport Co.”), entered into an agreement with Ebbtide Corporation, a Tennessee corporation (“Ebbtide”), dated May XX, 2023 (the “Agreement”), providing the Company with the right to acquire the AQUASPORTTM boat brand and manufacturing facility. The acquisition includes Aquasport’s trademarks, 150,000-square-foot manufacturing facility situated on 18.5 acres in White Bluff Tennessee, and related tooling, molds, and equipment to build five Aquasport models ranging in size from 21 to 25-foot boats (the “AquaSport Assets”). Under the Agreement, the Company has the right to purchase the AquaSport Assets from Ebbtide for $3,100,000 during the five year term of the Agreement (or extension period), less credit for a $300,000.00 security deposit paid by the Company and $16,000 a month for any rent paid unde
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855509/000173112223000836/0001731122-23-000836-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.