Twin Vee PowerCats Merger: Boat Maker Goes Private Under Amended USFM Deal

The twin vee powercats merger has taken a new turn. Twin Vee PowerCats Co. and USFM Corporation have amended the merger agreement they first signed on July 12, 2026, in a deal that takes the Florida boat maker’s marine business private. The revised terms were announced on October 8, 2026 via ACCESS Newswire.

Twin Vee PowerCats is a Fort Pierce, Florida company that designs and builds recreational power catamaran boats. USFM Corp is a privately held US company based in Golden, Colorado, that is advancing critical mineral opportunities in Greenland.

What the amended Twin Vee PowerCats merger changes

Under the amended agreement, a newly formed Texas corporation called Twin Vee Holdco Inc. (Pubco) created two transitory merger subsidiaries. One merges with USFM, the other with Twin Vee, leaving Pubco as the parent company holding both businesses as separate wholly owned subsidiaries.

At closing, pre-closing USFM stockholders will own about 93 percent of Pubco, with pre-closing Twin Vee stockholders holding the remaining 7 percent. Pubco shares are to be registered with the SEC and are expected to list on NYSE American or another national exchange.

Marine business moves into a CVR Trust

Twin Vee will transfer its marine business assets and liabilities into a Delaware statutory trust known as the CVR Trust. Pre-closing Twin Vee stockholders will receive non-transferable contingent value rights, or CVRs, as a special distribution.

The marine business will continue to operate as a separate private company focused on recreational marine products.

Background: reverse split and rename approved

The amended merger follows a September 8, 2026 shareholder vote in which Twin Vee shareholders approved a 1-for-37 reverse stock split and a company rename to Twin Vee Bahama Co.

Boat-industry deals keep coming

This is not the only boat-industry deal making headlines. Vision Marine recently activated a new boat inventory financing facility for Nautical Ventures, while public boat manufacturers have faced a bumpy year, with MasterCraft shares sliding after analysts cut their estimates.

What this means for UK boat buyers

When a boat maker goes private, buyers sometimes worry about warranties, parts and dealer support. The announcement says the marine business will keep operating as a separate private company focused on recreational marine products, which is reassuring for current owners and anyone considering a Twin Vee catamaran.

Still, it is smart to check three things before you buy: that your dealer is stable and likely to stay in business, that factory warranty support is clearly documented, and that the model you want is not being discontinued.

From a financing point of view, nothing fundamental changes. Marine lenders finance boats based on the vessel’s value, your credit profile and the loan terms, not on who owns the manufacturer. If you are weighing up a purchase, run the numbers first with our boat affordability calculator to see what monthly payment fits your budget.

Source: Morningstar