M&A · Industrials · Ship & Boat Building & Repairing
Twin Vee PowerCats, Co. to acquire Forza X1, Inc.
Announced Aug 12, 2024 · Closed Nov 26, 2024
Deal value$16MEV $6M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock$1.00 per share
Transaction
- Acquirer
- Twin Vee PowerCats, Co. (VEEE)
- Target
- Forza X1, Inc. (FRZA)
- Buyer type
- Strategic
- Offer price per share
- $1.00
- Enterprise value
- $6M
- Status
- Closed Nov 26, 2024
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Not disclosed
- To the target
- Not disclosed
Sector context · Industrials
- Comparable deals
- 82 in the prior 24 months
- Premium
- Sector median 35.0%
- EV / Adj. EBITDA
- Sector median 11.1x
- Break fee
- Sector median 2.8%
Timeline
- AnnouncedAug 12, 2024
- ClosedNov 26, 2024