Twin Vee Announces Acquisition of Forza X1 in an All-Stock Deal

Recreational catamaran boat manufacturer Twin Vee PowerCats Co. (VEEE) entered into a merger agreement on August 12, 2024, to acquire electric boat maker Forza X1, Inc. (FRZA) in an all-stock deal.

Deal Structure:

Under the terms of this agreement, shareholders of Forza will receive 0.61 shares of Twin Vee, at about $0.31 per share, representing a premium of 7.64% from the stock’s last close.

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