美國
證券交易委員會
華盛頓,特區。20549
表格
當前報告
根據第13或15(d)條款
證券交易法1934年第
報告日期(最早事件日期):May 24, 2024
(公司章程中指定的準確公司名稱)
(州或其他司法管轄區
文件編號) (組織成立地的州或國家): |
(委員會 文件編號) |
(國
稅
號) 識別號碼。 |
(總部地址)
(註冊人的 電話號碼,包括區號)
如Form 8-K的提交旨在同時滿足註冊人在以下任何條款下的提交義務(參見下文的 A.2): 請參閱請參閱下面的A.2通用指令:
根據證券法規則425條(17 CFR 230.425)的規定的書面通訊 | |
根據交易所法規則14a-12條(17 CFR 240.14a-12)的規定的徵求材料 | |
證券交易法(1934年)第14d-2(b)條款項下的發起前通訊(17 CFR 240.14d-2(b)) | |
證券交易法(1934年)第13e-4(c)條款項下的發起前通訊(17 CFR 240.13e-4(c)) |
根據《法案》第12(b)條登記的有價證券:
每一類別的名稱 | 交易 標的 |
每個證券交易所的名稱 其掛牌的交易所 | ||
(納斯達克資本市場) |
在勾選標記旁邊註明發行人是否是根據1933年證券法規則405條(本章節的§230.405)或1934年證券交易法規則12億.2條(本章節§2401.2億.2)定義的新興成長公司
新興成長型企業
如果該註冊人是一家新興企業,請勾選,表示該註冊人選擇不使用遵守根據交易所法第13(a)條規定提供的任何新的或修訂後的財務會計準則的延期過渡期。
項目8.01 其他事件。
2024年8月27日,特溫威動力雙體船有限公司(以下簡稱「特溫威」)在美國特拉華州註冊成立,在證券交易委員會(SEC)提交了S-4表格的註冊聲明,其中包括特溫威和Forza X1有限公司之間的初步聯合委託授權書,並含有特溫威的初步招股書。, 一家特拉華州註冊的公司(以下簡稱「Forza」),以及特溫威的初步招股書,涉及特溫威擬與Forza合併的事項。特溫威和Forza隨後於2024年10月11日提交了最終的聯合委託授權書/招股說明書(以下簡稱「聯合委託授權書/招股說明書」),就合併等事項進行了郵寄,該聯合委託授權書/招股說明書已寄給特溫威和Forza的股東。
2024年11月3日,Twin Vee收到了一封來自一個聲稱是Twin Vee股東的法律顧問的信,涉及合併代理聲明/招股說明書。在與這位聲稱是Twin Vee股東的法律顧問討論中,法律顧問表示其客戶相信合併代理聲明/招股說明書省略了關於併購的實質信息,並要求Twin Vee就Houlihan Capital公司(「Houlihan Capital」)在支持其關於由Twin Vee支付的交易比率對於Twin Vee股東的公允性的財務觀點意見所進行的資產評估進行額外和補充披露。
Twin Vee和Forza認爲,代表所謂的股東的律師提出的主張完全沒有根據,適用的規則、法規或法律並未要求提供進一步的披露,因爲已經包含在《聯合代理聲明/招股書》中。但是,爲了防止和避免可能延誤或以其他方式不利於對合並的批准造成影響的有關《聯合代理聲明/招股書》中披露充分性的潛在訴訟的成本和干擾,Twin Vee已確定,將自願對下文所述的與合併提議相關的《聯合代理聲明/招股書》作出某些補充披露(「補充披露」)。根據適用法律,本表格8-K之<Current Report>中的任何內容均不得視爲對此處列明的任何補充披露的法律必要性或重要性的承認。相反,Twin Vee和Forza明確否認需要或需要任何額外披露。
補充披露加入代理聲明書/招股說明書
補充披露應與聯合代理聲明/招股書一併閱讀,在SEC網站www.sec.gov免費提供。下面的頁碼參考是指聯合代理聲明/招股書中的頁碼,本處未定義的大寫術語的含義則參照聯合代理聲明/招股書中的規定。在補充披露中的信息與聯合代理聲明/招股書中含的信息有異同或衝突時,補充披露中的信息應視爲取代聯合代理聲明/招股書中的相應信息。
第87-88頁的聯合代理聲明/招股書披露在此得到補充,通過修改和重述該部分 “市場法” 如下:
市場法
在確定福爾扎的價值時,採用了以下方法:
● | 市場方法應用交易價格和30天VWAP |
現貨價格
Forza截至2024年7月31日收盤價爲每股0.3102美元。將交易價格乘以15,754,774股流通普通股,得到約490萬美元的股權價值。
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成交量加權平均價
Houlihan利用30天VWAP作爲Forza股權價值的指標。VWAP是通過Forza的30個交易日的開盤價、最高價、最低價和收盤價的成交量加權平均價格來計算的。將VWAP乘以15,754,774股的普通股,得出約600萬美元的股權估值。
Forza X1,Inc。 市場方法 - 成交量加權平均價 | ||||
截至2024年7月31日 | ||||
(實際) | ||||
30個交易日成交量加權平均價 1 | $ | 0.3787 | ||
流通股數2 | 15,754,774 | |||
指示股權價值 | $ | 5,966,392 | ||
指示的股權公允市場價值 | $ | 5,966,392 |
1 使用截至7月31日的前30個交易日的每日成交量、每日開盤價、最高價、最低價和收盤價計算。 2024.
2 截至7月31日的普通股流通量 2024.
根據上述描述的分析,Houlihan Capital計算出了Forza的股權價值區間在490萬美元至600萬美元之間。
豪艾漢資本確實認爲,這種估值方法產生了一系列指示出的值,支持其在更廣泛背景下的整體結論,並應與豪艾漢資本應用的其他估值方法的結果一起考慮。豪艾漢資本計算出了Forza的一系列指示公允市場價值。豪艾漢資本分析結果的總結如下:
股票權益的指示公平市場價值區間 (百萬) | ||||||
低 | 高 | |||||
$ | 4.9 | $ | 6.0 |
根據Houlihan Capital的分析,得出的一系列股權價值的結論,Houlihan Capital對市場方法給予了100%的權重。
爲了確定合併的交易所比率,Houlihan Capital從Twin Vee放棄的股份所示價值中減去了Forza的總體示值權益價值,以確定在放棄股份後Forza的示值權益價值。放棄股份後,根據2024年7月31日的Twin Vee股價,確定要發行給剩餘Forza股東的Twin Vee股份數量。最後,將發行給Forza股東的股份數量(在放棄後)除以Forza尚未發行的總股數,不包括Twin Vee在Forza中所放棄的股份,以確定所示交易比率。
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根據上述,Houlihan Capital計算出了合併的交易比率區間約爲0.5492至0.6705。由於根據合併協議約定的交易比率落在該區間內,Houlihan Capital得出結論認爲該合併從財務角度看對Twin Vee及其股東是公平的。
指定交易所比率 | ||||||
低 | 高 | |||||
0.5492 | 0.6705 |
認股權證和期權的估值
Houlihan Capital使用Black-Scholes模型來估算Forza的warrants和期權在價值日期的公允市場價值。這些期權和warrants價值較低。根據合併協議的條款,可轉換證券將按照交易比率轉換爲Twin Vee的期權和warrants。鑑於(1)我們分析確定的可轉換證券價值微不足道,以及(2)當前股價與工具各自行權價之間的價格差距,這些工具的存在並未對交易的公平性的確認產生重大影響。
Black-Scholes 模型 - 6.25美元的認股權證
Houlihan Capital根據條款對具有6.25美元行使價的權證進行了Black-Scholes分析,採用以下假設:
● | 到期時間:3.044年,基於合同到期日。 |
● | 現貨價格:由Houlihan Capital計算的每股價格。 |
● | 行權價:$6.25,合同行權價格。 |
● | 無風險利率:4.44%,基於與估值日期相符的美國國債券收益率。 |
● | 預期股息支付比率:0%,基於目標的預期股息支付比率。 |
● | 波動率:40%,基於目標的波動率。 |
Forza X1, 股份有限公司
認股權證的公允市場價值-截至2024年7月31日爲6.25美元
(實際)
Black-Scholes模型輸入 | 低 | 高 | ||||||
現貨價格 | $ | 0.31 | $ | 0.38 | ||||
執行價格 | $ | 6.25 | $ | 6.25 | ||||
到期時間(年) | 3.044 | 3.04 | ||||||
無風險利率 | 4.44 | % | 4.44 | % | ||||
股息收益率 | 0.00 | % | 0.00 | % | ||||
年度波動率 | 40.00 | % | 40.00 | % | ||||
看漲值 | $ | 0.00 | $ | 0.00 | ||||
未行使認股權 | 172,500 | 172,500 | ||||||
認股證的價值 | $ | 0.65 | $ | 2.53 |
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極限競速 X1, 公司
權證的公允市值 - 截至2024年7月31日爲1.88美元
(實際)
Black-Scholes輸入 | 低 | 高 | ||||||
現貨價格 | $ | 0.31 | $ | 0.38 | ||||
執行價格 | $ | 1.88 | $ | 1.88 | ||||
距到期時間(年) | 3.878 | 3.88 | ||||||
無風險利率 | 4.28 | % | 4.28 | % | ||||
股息收益率 | 0.00 | % | 0.00 | % | ||||
年化波動率 | 40.00 | % | 40.00 | % | ||||
看漲值 | $ | 0.00 | $ | 0.01 | ||||
未行權的認股權證 | 306,705 | 306,705 | ||||||
認股證的價值 | $ | 1,101 | $ | 2,380 |
Black-Scholes模型 - 以1.88美元認股權證
Houlihan Capital根據條款,對行權價爲1.88美元的權證進行了Black-Scholes分析,並使用以下假設:
● | 剩餘時間:3.878年,基於合同到期日。 |
● | 現貨價格:Houlihan Capital計算的每股價格。 |
● | 行使價格:$1.88,合同行使價格。 |
● | 無風險利率:4.28%,基於與價值日期匹配的美國國債票據收益率。 |
● | 預期股息支付比例:0%,基於目標公司的預期股息支付比例。 |
● | 波動率:40%,基於目標公司的波動率。 |
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Black-Scholes模型 - 期權以加權平均價格交易 $2.72
Houlihan Capital爲期權進行了Black-Scholes分析,根據其條款,使用加權平均$2.72行權價,並基於以下假設:
● | 到期時間: 根據合同到期,爲8.52年 日期。 |
● | 現貨價格: 每股價格由Houlihan計算得出 資本。 |
● | 行使價格:$2.72, 合同行使價格 價格。 |
● | 無風險利率: 4.35%,基於與價值日期相匹配的美國國庫券的收益率。 |
● | 預期股息 支付比率:0%,基於預期的股息支付比率爲 Target。 |
● | 波動率:40%, 基於 目標。 |
Forza X1, 股份有限公司 期權的公允市場價值 - @ $2.72 截至2024年7月31日 | |
(實際) |
Black-Scholes模型輸入 | 低 | 高 | ||||||||
現貨價格 | $ | 0.31 | $ | 0.38 | ||||||
執行價格 | $ | 2.72 | $ | 2.72 | ||||||
到期時間(年) | 8.52 | 8.52 | ||||||||
無風險利率 | 4.35 | % | 4.35 | % | ||||||
股息收益率 | 0.00 | % | 0.00 | % | ||||||
年度波動率 | 40.00 | % | 40.00 | % | ||||||
看漲值 | $ | 0.02 | $ | 0.03 | ||||||
未行權期權 | 1,368,074 | 1,368,074 | ||||||||
期權的價值 | $ | 28,660 | $ | 46,695 |
有關併購建議的重要信息 及其查找位置
合併提議的詳細條款描述已在聯合代理聲明/招股說明書中提供。聯合代理聲明/招股說明書已於2024年10月14日前後發送給 Forza 的股東記錄,記錄日期爲2024年10月4日營業結束時。敦促投資者和安防-半導體持有者仔細閱讀註冊聲明和聯合代理聲明/招股說明書,以及美國證券交易委員會已向該局提交的其他重要文件的全部內容,以及這些文件的任何修訂版或補充版本,因爲它們將包含關於 Twin Vee、Forza 和擬議合併的重要信息。投資者和安防-半導體持有者將能夠無償從 Twin Vee 或 Forza 或從美國證券交易委員會網站獲得註冊聲明和聯合代理聲明/招股說明書,以及包含有關 Twin Vee 和 Forza 信息的其他申報文件,這些文件在提交時會提供。Twin Vee 向美國證券交易委員會提交的文件可在 Twin Vee 的網站上免費獲得,網址爲,請使用您的moomoo帳戶登錄查看。,通過以書信形式向 Twin Vee Powercats Co.,3101 S. US-1,佛羅里達州烏佛皮爾斯發送請求,注意:公司秘書。Forza 向美國證券交易委員會提交的文件可在 Forza 的網站上免費獲得,網址爲,蘋果CEO庫克大規模出售股票,套現逾3億港元。,或通過以書信形式向 Forza X1, Inc. 3101 S. US-1,佛羅里達州烏佛皮爾斯發送請求,注意:公司秘書。
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Participants in the Solicitation
Twin Vee and Forza and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Twin Vee or Forza in respect of the proposed transaction. Information about Twin Vee’s directors and executive officers will be contained in the joint proxy statement/prospectus to be filed with the SEC regarding the proposed Merger and is available in other documents filed by Twin Vee with the SEC. Information about Forza’s directors and executive officers will be contained in the joint proxy statement/prospectus to be filed with the SEC regarding the proposed Merger and is available in other documents filed by Forza with the SEC. Other information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when they become available. Investors should read the joint proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from Twin Vee or Forza as indicated above.
No Offer or Solicitation
This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to the Merger or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Cautionary Statement Regarding Forward-Looking Statements
Statements included in this communication which are not historical in nature or do not relate to current facts are intended to be, and are hereby identified as, forward-looking statements for purposes of the safe harbor provided by Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements are based on, among other things, Twin Vee management’s and Forza management’s beliefs, assumptions, current expectations, estimates and projections about the financial services industry, the economy and Twin Vee and Forza. Words and phrases such as “may,” “approximately,” “continue,” “should,” “expects,” “projects,” “anticipates,” “is likely,” “look ahead,” “look forward,” “believes,” “will,” “intends,” “estimates,” “strategy,” “plan,” “could,” “potential,” “possible” and variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements may include projections of, or guidance on, the Twin Vee’s or the combined company’s future financial performance, asset quality, capital levels, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Twin Vee’s business or financial results. Twin Vee and Forza caution readers that forward-looking statements are subject to certain risks and uncertainties that are difficult to predict with regard to, among other things, timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results. Such risks and uncertainties include, among others, the following possibilities: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement entered into between Twin Vee and Forza; the outcome of any legal proceedings that may be instituted against Twin Vee or Forza; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Merger) and shareholder approvals or to satisfy any of the other conditions to the Merger on a timely basis or at all; the possibility that the anticipated benefits of the Merger are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Twin Vee and Forza do business; the possibility that the Merger may be more expensive to complete than anticipated; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the Merger; changes in Twin Vee’s share price before the closing of the Merger; risks relating to the potential dilutive effect of shares of Twin Vee common stock to be issued in the Merger; and other factors that may affect future results of Twin Vee, Forza and the combined company. Additional factors that could cause results to differ materially from those described above can be found in Twin Vee’s Annual Report on Form 10-K for the year ended December 31, 2023, Forza’s Annual Report on Form 10-K for the year ended December 31, 2023, Twin Vee’s and Forza’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and in other documents Twin Vee and Forza file with the SEC, which are available on the SEC’s website at www.sec.gov.
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All forward-looking statements, expressed or implied, included in this communication are expressly qualified in their entirety by the cautionary statements contained or referred to herein. If one or more events related to these or other risks or uncertainties materialize, or if Twin Vee’s or Forza’s underlying assumptions prove to be incorrect, actual results may differ materially from what
Twin Vee and Forza anticipate. Twin Vee and Forza caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made and are based on information available at that time. Neither Twin Vee nor Forza assumes any obligation to update or otherwise revise any forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws.
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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: November 6, 2024 | FORZA X1,
INC. (Registrant) | |
By: | /s/ Joseph Visconti | |
Name: | Joseph Visconti | |
Title: | Interim Chief Executive Officer |
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