Twin Vee PowerCats Files 8-K with Material Agreement

TL;DR

TVPC filed an 8-K on Feb 10th for a Feb 4th event - material agreement signed.

AI Summary

On February 4, 2025, Twin Vee PowerCats, Co. entered into a material definitive agreement. The company also reported other events and filed financial statements and exhibits. The filing was made on February 10, 2025.

Why It Matters

This 8-K filing indicates a significant development for Twin Vee PowerCats, Co., potentially impacting its operations and financial standing.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.

Key Players & Entities

• Twin Vee PowerCats, Co. (company) — Registrant
• February 4, 2025 (date) — Earliest event reported
• February 10, 2025 (date) — Filing date
• 3101 S. US-1 Ft. Pierce , Florida 34982 (address) — Principal executive offices

FAQ

Key Financial Figures

• $0.001 — ch registered Common stock, par value $0.001 per share VEEE The Nasdaq Stock Mar
• $500 — he Business; and (b) a credit to OWM of $500 per OWM dealer who lists boats or yacht
• $5,000,000 — related to the Business and pay to OWM $5,000,000 (the "Minimum Purchase Price"), less th
• $500,000 — ation or warranty by OWM may not exceed $500,000 and (b) for any other reason, or for an
• $750,000 — e preceding twenty-four month period or $750,000, whichever is less. The Company has agr

Filing Documents

• e6345_8-k.htm (8-K) — 33KB
• e6345_ex10-1.htm (EX-10.1) — 254KB
• e6345_ex99-1.htm (EX-99.1) — 17KB
• image_001.gif (GRAPHIC) — 3KB
• image_001.jpg (GRAPHIC) — 7KB
• image_002.gif (GRAPHIC) — 1KB
• 0001731122-25-000193.txt ( ) — 557KB
• veee-20250204.xsd (EX-101.SCH) — 3KB
• veee-20250204_lab.xml (EX-101.LAB) — 33KB
• veee-20250204_pre.xml (EX-101.PRE) — 24KB
• e6345_8-k_htm.xml (XML) — 4KB

01. Entry into a Material Definitive

Item 1.01. Entry into a Material Definitive Agreement. On February 4, 2025, Twin Vee PowerCats Co. (the "Company") entered into an agreement (the "Sale Agreement"), effective February 4, 2025 (the "Effective Date"), with Revver Digital, LLC, a Delaware limited liability company and wholly owned subsidiary of One Water Marine Inc. ("OWM"), providing the Company with the right to acquire certain intellectual property of OWM (the "OWN Intellectual Property") related to (a) the online marketplace, advertisement, marketing, and sale services of yachts, boats, and yacht and boat accessories and (b) arranging of loans, insurance, and warranty services related to yachts and boats under the brands "Yachts for Sale" and "Boats for Sale" through the websites available at the domains (the "Domains") "yachtsforsale.com" and "boatsforsale.com" (the "Business"). Pending the closing of the sale of the OWN Intellectual Property to the Company, the Sale Agreement grants the Company a license to use and sublicense the OWN Intellectual Property to conduct the Business in consideration of: (a) the payment to OWM of a monthly revenue-sharing royalty (the "Revenue-Sharing Royalty") of six percent (6%) of the Aggregate Subscription Revenue (as defined) of the Business; and (b) a credit to OWM of $500 per OWM dealer who lists boats or yachts on the Domains during such period (the "Dealer Storefront Credit"). On the date of the closing (the "Closing") of the sale of the OWN Intellectual Property to the Company, the Sale Agreement provides that in consideration of the transfer of, and as a purchase price (the "Purchase Price") for, the OWM Intellectual Property, the Company will assume certain liabilities of OWM related to the Business and pay to OWM $5,000,000 (the "Minimum Purchase Price"), less the aggregate amount of all Revenue-Sharing Royalties paid to OWM through such date and the aggregate amount of all Dealer Storefront Credits accrued for the benefit of OWM through such date (th

01. Other Events

Item 8.01. Other Events. On February 10, 2025, the Company issued a press release regarding the entry into the Sale Agreement. A copy of the press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

01. Financial Statements and

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit Description 10.1* License and Conditional Sale Agreement, effective February 4, 2025, by and between Revver Digital, LLC and Twin Vee PowerCats Co. 99.1 Press Release issued by Twin Vee Powercats Co. dated February 10, 2025 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company hereby undertakes to furnish copies of any of the omitted schedules upon request by the Securities and Exchange Commission. 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: February 10, 2025 TWIN VEE POWERCATS CO. (Registrant) By: /s/ Joseph Visconti Name: Joseph Visconti Title: Chief Executive Officer and President 3

View Full Filing

View this 8-K filing on SEC EDGAR