Twin Vee PowerCats Co. (NASDAQ:VEEE) stock climbed nearly 12% in Friday’s premarket trading as investors continued to react to the company’s planned merger with USFM Corp., even as broader markets weakened. S&P 500 futures were down 0.8% before the opening bell.
Merger Drives Investor Interest
The stock closed 36.07% higher in the previous session, extending its recent rally.
Twin Vee and USFM have signed a merger agreement, and both companies’ boards have approved the transaction. The companies expect to close the deal in the third quarter of 2026, subject to shareholder and regulatory approvals.
USFM’s Critical Minerals Strategy
USFM, a privately held U.S.-based mineral exploration company, is advancing critical mineral projects, including the Disko-Nuussuaq Project in Greenland.
USFM advanced its 2026 exploration program at the Disko-Nuussuaq Project, marking a significant development for both companies as they pursue this promising opportunity.
Marine Business Separation Plans
Before the merger closes, Twin Vee plans to separate its recreational marine business, including the Twin Vee and Bahama Boat Works brands, into a privately held company.
The company will grant existing shareholders non-transferable contingent value rights tied to any future proceeds generated by the separated business, subject to the transaction’s completion.
Twin Vee PowerCats Price Action
VEEE Stock Price Activity: Twin Vee PowerCats shares were up 11.53% at $40.35 during premarket trading on Friday, according to Benzinga Pro data.
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