09:19 AM EDT, 05/09/2025 (MT Newswires) -- Twin Vee PowerCats ( VEEE ) shares were down 39% in premarket activity on Friday after it priced an underwritten public offering at $4 per share for expected gross proceeds of $3 million.

The offering is expected to close on Monday, the company said in a Thursday statement.

The company said it intends to use the net proceeds from the offering mainly for working capital and general corporate purposes.