Twin Vee PowerCats Co. has filed a Certificate of Validation to finalize a 1-for-37 reverse stock split of its common stock, which became effective on May 4, 2026. The filing details the results of a Special Meeting held on September 8, 2026, where stockholders voted to ratify the corporate actions.
At the close of business on the Record Date of August 10, 2026, there were 584,321 shares of common stock issued and outstanding. However, the Proxy Statement filed in August contained an administrative error regarding the number of shares entitled to vote. The correct count for voting was 571,508 shares.
A quorum was met with 255,575 shares present in person or by proxy. The stockholders voted on three proposals:
- Proposal 1 (Ratification Proposal): Ratified the 1-for-37 reverse stock split. The vote was 241,315 FOR, 13,478 AGAINST, and 782 ABSTAINING.
- Proposal 2 (Name Change Proposal): Approved an amendment to the certificate of incorporation to change the company name from Twin Vee PowerCats Co. to Twin Vee Bahama Co. The vote was 248,329 FOR, 6,628 AGAINST, and 618 ABSTAINING.
- Proposal 3 (Adjournment Proposal): Approved the ability to adjourn the meeting if necessary to secure additional votes. The vote was 244,898 FOR, 9,774 AGAINST, and 903 ABSTAINING.
All proposals received the requisite affirmative votes from the holders of a majority of the voting power present at the meeting.
