|
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
|
Twin Vee PowerCats Co. (Name of Issuer) |
Common Stock, $0.001 par value per share (Title of Class of Securities) |
90177C101 (CUSIP Number) |
Joseph C. Visconti c/o Twin Vee PowerCats Co., 3101 S. US-1 Ft. Pierce, FL, 34982 (772) 429-2525 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
12/31/2024 (Date of Event Which Requires Filing of This Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the
Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
SCHEDULE 13D
|
| CUSIP No. | 90177C101 |
| 1 |
Name of reporting person
Joseph C. Visconti | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
 (a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
PF, OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
3,271,854.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
20.8 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person:
Percentage is based on 14,874,480 shares of Common Stock issued and outstanding as of December 31, 2024 and 842,712 shares of Common Stock issuable upon options that will vest and be exercisable within 60 days of December 31, 2024. Excludes 373,199 shares of Common Stock issuable upon the exercise of outstanding options which are not currently exercisable.
SCHEDULE 13D
|
| Item 1. | Security and Issuer |
| (a) | Title of Class of Securities:
Common Stock, $0.001 par value per share |
| (b) | Name of Issuer:
Twin Vee PowerCats Co. |
| (c) | Address of Issuer's Principal Executive Offices:
3101 S. US-1, Ft. Pierce,
FLORIDA
, 34982. |
| Item 2. | Identity and Background |
| (a) | Joseph C. Visconti |
| (b) | The principal business address of the Reporting Persons is: c/o Twin Vee PowerCats Co, 3101 S. US-1, Ft. Pierce, Florida 34982. |
| (c) | The Reporting Person is the Chairman of the Board and Chief Executive Officer of the Issuer. |
| (d) | During the past five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). |
| (e) | During the past five years, the Reporting Person has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. |
| (f) | United States |
| Item 3. | Source and Amount of Funds or Other Consideration |
The shares of Common Stock reported herein as beneficially owned by the Reporting Person were: (i) purchased with personal funds; (ii) granted as compensation for the Reporting Person's services as an employee of the Issuer; (iii) acquired as merger consideration in connection with the merger of Twin Vee Powercats, Inc. with and into Twin Vee PowerCats Co. effective November 29, 2022; or (iv) acquired as merger consideration in connection with the merger of Twin Vee Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the Issuer with and into Forza X1, Inc., a Delaware corporation ("Forza") effective as of November 26, 2024, with Forza surviving such merger (the "Forza Merger") as a wholly-owned subsidiary of the Issuer. | |
| Item 4. | Purpose of Transaction |
The Reporting Person may, from time to time, acquire additional shares of Common Stock (1) by the exercise or vesting of currently held options (See Annex A), (2) by the grant of additional options to the Reporting Person by the Issuer, (3) from time to time in open market purchases for investment purposes if market conditions are favorable, or (4) any combination of the foregoing. | |
| Item 5. | Interest in Securities of the Issuer |
| (a) | The responses set forth in rows 11 through 13 and the related "Comments for Type of Reporting Person" on the cover page to this Schedule 13D are incorporated by reference into this Item 5. |
| (b) | The responses set forth in rows 7 through 10 and the related "Comments for Type of Reporting Person" on the cover page to this Schedule 13D are incorporated by reference into this Item 5. |
| (c) | Except as set forth in Annex A, the Reporting Person has not effected any transactions in securities of the Issuer during the past 60 days. |
| (d) | No other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock beneficially owned by the Reporting Persons. |
| (e) | Not applicable. |
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer |
Other than as indicated in this statement, the Reporting Person is not party to any contract, arrangement, understanding, or relationship (legal or otherwise) with any person with respect to any securities of the Issuer, including but not limited to, the transfer or voting of any of the Issuer's securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies. |
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
|
|
|