UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT
REPORT
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Item 1.01. Entry into a Material Definitive Agreement.
Forza X1 and OneWater Agreement
On August 17, 2022, Forza X1, Inc. (“Forza X1”), a subsidiary of Twin Vee PowerCats Co. (the “Company”), entered into an agreement (the “OneWater Agreement”) with OneWater Marine, Inc. (“One Water”) to establish Forza X1 customer experience and service centers in OneWater’s current and future locations and other strategic locations across the United States pursuant to which OneWater will be the sole dealer distributing Forza X1 products and OneWater’s retail locations may be used as potential delivery points for customers to pick up their Forza X1 products. Forza X1 retained the right to sell its products directly to customers. The OneWater Agreement has a term of five years but may be terminated by either party for breach upon thirty days’ notice and without cause upon three months’ notice.
The foregoing description of the OneWater Agreement does not purport to be complete and is qualified in its entirety by reference to a copy of the OneWater Agreement, which is included as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein in reference.
Item 8.01. Other Events.
On August 18, 2022, Forza X1 issued a press release announcing the OneWater Agreement, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number | Description | |
| 1.1 | Forza and OneWater Agreement, dated August 17, 2022, by and between Forza X1, Inc. and OneWater Marine, Inc. | |
| 99.1 | Press Release issued by Forza X1, Inc, dated August 18, 2022 | |
| 104 | Cover Page Interactive Data File (embedded with the inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: August 18, 2022 | Twin
Vee Powercats Co. (Registrant) | ||
| By: | /s/ Joseph Visconti | ||
| Name: | Joseph Visconti | ||
| Title: | Chief Executive Officer and President | ||
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