Twin Vee PowerCats, Co. (VEEE): M&A transaction — 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.

item 1.01 item 2.01 item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Twin Vee PowerCats, Co. completed an acquisition involving Bahama Boat Works, LLC for $100,000 and agreed to pay up to $3,000,000 in additional contingent consideration (closed 2025-06-05).

Action: acquisition
Counterparty: Bahama Boat Works, LLC
Consideration: $100,000 and agreed to pay up to $3,000,000 in additional contingent consideration
Closing: 2025-06-05

Exact text from the filing

In consideration of the transferred Assets the Company paid Bahama Boat Works $100,000 and agreed to pay up to $3,000,000 in additional contingent consideration

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Twin Vee PowerCats, Co. filing history →

Source: SEC EDGAR

accession 0001731122-25-000839

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