Electric boat co Forza X1 zooms in public debut
12/08/2022 17:17
** Electric sports boat developer Forza X1 Inc's FRZA.O
shares more than double after $15 mln IPO
** FRZA last up $140.6% at $12.03 on 8,735,519 shares of
trading volume
** Forza, spun out of Twin Vee PowerCats VEEE.O , sold 3
mln shares as planned at $5 urn:newsml:reuters.com:*:nACSxpwqGa
** To date, co has completed design and prototyping of the
electric outboard motor and expects to start producing its two
FX1 electric boats and selling them in Q2 2023, per the
prospectus filing https://www.sec.gov/Archives/edgar/data/1901305/000173112222001267/e3936_s-1a7.htm#a_017
** Twin Vee owns 70% of Forza post the offering
** ThinkEquity sole bookrunner for the IPO
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))