USFM and Twin Vee Amend Merger Agreement
USFM Corporation and Twin Vee amended their definitive merger agreement for USFM’s pending business combination with Twin Vee. Changes include a revised transaction structure, an effort to seek up to $5 million in PIPE financing, and revised post-closing ownership of 93% for pre-closing USFM stockholders and 7% for pre-closing Twin Vee stockholders.
Why it matters — The amended agreement changes the proposed transaction structure and the ownership allocation for Twin Vee stockholders if the combination closes.