Twin Vee amends USFM merger terms, boosts USFM holders’ stake to 93%
VEEE•Revised merger terms give USFM holders 93% and Twin Vee holders 7% of the combined company, with closing targeted for Q4 2026 or Q1 2027.
1. Revised merger structure
The amended deal would place USFM and Twin Vee PowerCats under a new Texas parent, Twin Vee Holdco, as separate wholly owned units. USFM must use reasonable best efforts to raise up to $5 million in a PIPE financing. Twin Vee plans a CVR trust to hold its marine business and distribute non-transferable CVRs to pre-closing Twin Vee holders. Closing is targeted for Q4 2026 or Q1 2027, subject to customary conditions, including disinterested shareholder approval.
