8-K
filed November 26, 2024, 6:59 PM ET
CIK 0001901305
M&A
confidence high
sentiment neutral
materiality 0.75
Forza X1, Inc.: M&A transaction — Forza X1 completes merger with Twin Vee; shares converted at 0.611666275 ratio; Nasdaq delisting underway
Forza X1, Inc.
- Merger effective Nov 26, 2024; each Forza share converted to 0.611666275 Twin Vee shares.
- Forza becomes wholly-owned subsidiary of Twin Vee PowerCats Co. following the merger.
- Forza common stock suspended from Nasdaq effective Oct 10, 2024; company intends to file Form 25 and Form 15 for delisting and deregistration.
- Directors Marcia Kull, Neill Ross, and Kevin Schuyler resigned effective at the merger close.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Marcia Kull resigned as Director at Forza X1, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
at the Effective Time, Marcia Kull, Neill Ross and Kevin Schuyler resigned as directors of Forza.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kevin Schuyler resigned as Director at Forza X1, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
at the Effective Time, Marcia Kull, Neill Ross and Kevin Schuyler resigned as directors of Forza.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Neill Ross resigned as Director at Forza X1, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
at the Effective Time, Marcia Kull, Neill Ross and Kevin Schuyler resigned as directors of Forza.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Forza X1, Inc. underwent a change of control involving Twin Vee PowerCats Co. (closed 2024-11-26).
- Action
- change of control
- Counterparty
- Twin Vee PowerCats Co.
- Closing
- 2024-11-26
Exact text from the filing
On November 26, 2024 (the “Closing Date”), pursuant to the terms of the Agreement and Plan of Merger, dated as of August 12, 2024 (the “Merger Agreement”), by and between Forza X1, Inc., a Delaware corporation (the “Company” or “Forza”), Twin Vee PowerCats Co. (“Twin Vee”) and Twin Vee Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of Twin Vee (“Merger Sub”), Merger Sub was merged with and into Forza (the “Merger”), with Forza surviving the Merger as a wholly-owned subsidiary of Twin Vee.
View on SEC.gov
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