Investor Group Discloses Stake in Twin Vee PowerCats

TL;DR

**TVPC:** Big investor group just filed a 13D. Watch this space.

AI Summary

On October 25, 2024, Joshua S. Horowitz and Palm Management (US) LLC, along with Palm Global Small Cap Master Fund LP, filed a Schedule 13D. This filing indicates a change in beneficial ownership of Twin Vee PowerCats Co. (TVPC) common stock. The filing does not specify the exact number of shares or percentage owned, but it signifies a significant stake and potential influence over the company.

Why It Matters

This filing signals a significant investment by an institutional investor group, potentially leading to changes in company strategy, management, or future stock performance.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede activist campaigns or significant corporate actions, introducing uncertainty and potential volatility.

Key Players & Entities

• Joshua S. Horowitz (person) — Filing party and beneficial owner
• Palm Management (US) LLC (company) — Filing party and beneficial owner
• Palm Global Small Cap Master Fund LP (company) — Group member and beneficial owner
• Twin Vee PowerCats Co. (company) — Subject company
• Jurgita Ashley Thompson Hine LLP (company) — Legal counsel for filing parties

FAQ

Key Financial Figures

• $0.001 — ame of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securiti
• $1,488,588 — rokerage commissions, was approximately $1,488,588. The source of these funds was working
• $131,000 — rokerage commissions, was approximately $131,000. The source of these funds was personal

Filing Documents

• tm2426834d1_sc13d.htm (SC 13D) — 87KB
• 0001104659-24-111477.txt ( ) — 88KB

Security and Issuer

Item 1. Security and Issuer. This Statement of Beneficial Ownership on Schedule 13D (this “Statement”) relates to the common stock, par value $0.001 per share (the “Common Stock”), of Twin Vee PowerCats Co., a Delaware corporation (the “Company”). The Company reports that its principal executive offices are located at 3101 S. US-1, Fort Pierce, Florida 34982.

Identity and Background

Item 2. Identity and Background. This Statement is filed by (i) Palm Global Small Cap Master Fund LP, a Cayman Islands exempted limited partnership (“Palm Global”), (ii) Palm Management (US) LLC, a Delaware limited liability company, (iii) Mr. Bradley C. Palmer, and (iv) Mr. Joshua S. Horowitz. The foregoing entities and persons are sometimes referred to herein individually as a “Reporting Person” and collectively as the “Reporting Persons.” The Reporting Persons are filing this Statement jointly. Neither the fact of this filing nor anything contained herein shall be deemed to be an admission by any of the Reporting Persons that they constitute a “group.” The principal business of Palm Global is serving as a private investment fund. The general partner of Palm Global is Palm Global Small Cap Fund GP Ltd. The principal business of Palm Management (US) LLC is to provide investment management services, including to Palm Global. The principal occupation of Mr. Palmer is serving as a portfolio manager and special limited partner of Palm Global and as an employee of Palm Management (US) LLC. The principal occupation of Mr. Horowitz is serving as a portfolio manager at Palm Management (US) LLC. Each of Messrs. Palmer and Horowitz is a U.S. citizen. The business address of each of the Reporting Persons is c/o Palm Management (US) LLC, 19 West Elm Street, Greenwich, Connecticut 06830. None of the Reporting Persons or any of their partners, managers, officers or other controlling persons has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). None of the Reporting Persons or any of their partners, managers, officers or other controlling persons has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or fin

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration. The total cost for purchasing the Common Stock reported as directly held by Palm Global, including brokerage commissions, was approximately $1,488,588. The source of these funds was working capital. The total cost for purchasing the Common Stock reported as directly held by Mr. Horowitz, including brokerage commissions, was approximately $131,000. The source of these funds was personal funds.

. Purpose of Transaction

Item 4 . Purpose of Transaction. The Company has entered into an Agreement and Plan of Merger, dated August 12, 2024, with its partially owned subsidiary, Forza X1, Inc., which is subject to, among other things, approval by the stockholders of Forza X1, Inc. The Reporting Persons are also stockholders of Forza X1, Inc. The Reporting Persons purchased the Common Stock based on the Reporting Persons’ belief that such securities, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of securities of the Company at prices that would make the purchase or sale of such securities desirable, the Reporting Persons may endeavor to increase or decrease their position in the Company through, among other things, the purchase or sale of securities of the Company on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable. CUSIP No. 90177C101 13D Page 7 of 10 Pages The Reporting Persons do not have any present plan or proposal that would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons intend to review their investment in the Company on a continuing basis. Depending on various factors including, without limitation, the Company’s financial position, the price levels of the securities of the Company, conditions in the securities markets, and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Company as they deem appropriate, including, without limitation, engaging in communications with management and/or the board of directo

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. (a)The Reporting Persons beneficially own in the aggregate 560,000 shares of Common Stock, which represents approximately 5.9% of the Company’s outstanding shares of Common Stock. Palm Global directly holds the number and percentage of shares of Common Stock disclosed as beneficially owned by it in the applicable table set forth on the cover page to this Statement. Mr. Horowitz directly holds the number and percentage of shares of Common Stock disclosed as solely beneficially owned by him in the applicable table set forth on the cover page to this Statement. None of the other Reporting Persons directly holds any of the shares of Common Stock disclosed in this Statement. Palm Management (US) LLC, as the investment manager of Palm Global, may be deemed to be a beneficial owner of the shares of Common Stock disclosed as directly owned by Palm Global. Due to his position with Palm Management (US) LLC, Mr. Palmer may be deemed to be a beneficial owner of the shares of Common Stock disclosed as directly owned by Palm Global. Due to his positions with Palm Global and Palm Management (US) LLC, Mr. Horowitz may be deemed to be a beneficial owner of the shares of Common Stock disclosed as directly owned by Palm Global. Palm Management (US) LLC, Mr. Palmer and Mr. Horowitz expressly disclaim such beneficial ownership except to the extent of their pecuniary interest therein. Each percentage ownership of Common Stock set forth in this Statement is based on 9,519,481 shares of Common Stock reported by the Company as outstanding as of October 4, 2024 in its Prospectus Supplement filed pursuant to Rule 424(b)(3) of the Securities Act of 1933, as amended, filed with the Securities and Exchange Commission on October 11, 2024. (b)Palm Global beneficially owns, and has the shared voting and power to direct the voting and disposition of, the shares of Common Stock disclosed as beneficially owned by it in the applicable table set

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. Pursuant to Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the Reporting Persons have entered into an agreement with respect to the joint filing of this Statement, which agreement is set forth on the signature page to this Statement.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits. None. CUSIP No. 90177C101 13D Page 9 of 10 Pages

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this Statement is true, complete and correct. In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of this Statement on Schedule 13D with respect to the Common Stock of the Company. Dated: October 25, 2024 PALM MANAGEMENT (US) LLC /s/ Joshua S. Horowitz Joshua S. Horowitz Portfolio Manager PALM GLOBAL SMALL CAP MASTER FUND LP By Palm Global Small Cap Fund GP Ltd., its general partner /s/ Joshua S. Horowitz Joshua S. Horowitz Director /s/ Bradley C. Palmer BRADLEY C. PALMER /s/ Joshua S. Horowitz JOSHUA S. HOROWITZ CUSIP No. 90177C101 13D Page 10 of 10 Pages Schedule A Transactions in the Common Stock in the Past 60 Days: Palm Global Small Cap Master Fund LP Transaction Date Number of Shares Bought (Sold) Price per Share ($) 10/24/2024 112,000 $ 0.50 Joshua S. Horowitz Transaction Date Number of Shares Bought (Sold) Price per Share ($) 10/24/2024 15,000 $ 0.53

View Full Filing

View this SC 13D filing on SEC EDGAR