Twin Vee PowerCats sells North Carolina property for $4.25M

Twin Vee PowerCats (VEEE) announced the closing of the sale of the commercial property in Marion, North Carolina on October 31, 2025. The site was previously intended for the construction of a manufacturing facility for Twin Vee’s subsidiary, Forza X1, Inc. According to the Company, the $4.25M sale price will positively affect Twin Vee’s balance sheet. Moreover, Twin Vee carried no debt, bank loans or any other current liabilities against the property. Highland Myco Holdings, LLC, a North Carolina limited liability company, purchased the property located at 100 Impact Drive in Marion, North Carolina, encompassing approximately 11.88 acres and including a partially completed building totaling approximately 60,000 square feet. The total consideration for the transaction was $4,250,000. The terms of the sale included a cash closing payment of $500,000, with an additional $3,750,000 payable in installments of $500,000 plus accrued interest at a rate of 5% on October 31, 2026, $500,000 plus accrued interest on April 30, 2027, and a final payment of $2,750,000 plus accrued interest on October 31, 2027.