Twin Vee PowerCats Acquires Bahama Boat Works

Twin Vee PowerCats ( (VEEE) ) has provided an update.

On June 5, 2025, Twin Vee PowerCats Co. acquired the iconic Bahama Boat Works, including its tangible and intangible assets, for an initial payment of $100,000 and up to $3,000,000 in contingent consideration based on future sales. This acquisition aims to integrate Twin Vee’s advanced composite construction and technological expertise with Bahama’s renowned craftsmanship, enhancing the brand’s offerings and maintaining its legacy of producing premium offshore fishing vessels. The continued involvement of master boat builder Scott Henley is expected to preserve the quality and reputation of Bahama Boat Works under Twin Vee’s ownership.

Spark’s Take on VEEE Stock

According to Spark, TipRanks’ AI Analyst, VEEE is a Neutral.

Twin Vee PowerCats is currently facing substantial financial challenges, with declining revenues and negative cash flows being the most significant concerns. While recent earnings call highlights improvements in revenue growth and operational efficiency, these are offset by continued net losses and valuation concerns. Technical indicators suggest a bearish trend, but oversold conditions might offer a rebound opportunity. Investors should be cautious due to the financial instability, despite some positive strategic initiatives.

To see Spark’s full report on VEEE stock, click here.

More about Twin Vee PowerCats

Twin Vee PowerCats Co. is a manufacturer, distributor, and marketer of power sport boats, known for their stable, fuel-efficient, and smooth-riding catamaran hull designs. Located in Fort Pierce, Florida, the company has been building and selling boats for 30 years and is recognized as one of the most notable brands in the catamaran sport boat category.

Average Trading Volume: 1,741,648

Technical Sentiment Signal: Sell

Current Market Cap: $5.5M

See more insights into VEEE stock on TipRanks’ Stock Analysis page.