Twin Vee acquires Bahama Boat Works brand assets for $100K upfront plus up to $3M contingent

Twin Vee PowerCats, Co.

Acquired Bahama Boat Works brand assets via Asset Purchase Agreement on June 5, 2025. Consideration: $100K upfront plus up to $3M contingent on revenue from new 31'-41' boat models.
Contingent payments: 20% of first $7.5M in revenues from new boats, then 10% up to $21.5M in revenue until $3M cap.
Agreement includes termination clause; company may discontinue product line and return assets or sell brand with proceeds split.
Master boat builder Scott Henley will remain involved to preserve brand quality.
Press release issued June 6, 2025, highlighting strategic integration of Bahama's craftsmanship with Twin Vee's innovation.

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