Vision Marine Technologies Inc Stock Price, News & Analysis

Vision Marine Technologies (NASDAQ: VMAR) announced on April 19, 2023, a definitive agreement for the issuance of 381,293 common shares at $4.21 each, generating approximately $1.6 million in gross proceeds through a registered direct offering.

In conjunction with this, the company will issue warrants for the purchase of an equal number of shares, exercisable six months post-issuance at the same price, expiring in three years. The transaction is set to close on April 20, 2023, pending customary conditions.

The proceeds are intended for working capital and general corporate purposes. Roth Capital Partners is acting as the financial advisor for this transaction.

Vision Marine Technologies (NASDAQ: VMAR) announced its participation in the Newport Beach International Boat Show from April 27-30, 2023. The company will showcase the Four Winns H2e, an electric bowrider powered by Vision Marine's E-Motion™ 180E outboard motor. This event presents an opportunity for Vision Marine to highlight its innovative technology aimed at revolutionizing the recreational boating industry.

Furthermore, on April 11, 2023, Vision Marine received a notice of deficiency from Nasdaq regarding non-compliance with Listing Rule 5605(c)(2)(A) due to a vacancy in its audit committee. The company has until its next annual shareholders’ meeting or March 15, 2024, to regain compliance. Vision Marine is actively seeking to appoint an independent director to fulfill the requirement.

Vision Marine Technologies (NASDAQ: VMAR) announced its participation in the Planet MicroCap Showcase: VEGAS 2023 on April 26, 2023, at 11:30 AM PDT. The event emphasizes the company’s leadership in the electric recreational boating sector. Attendees can access the live presentation via a provided webcast link.

Investors interested in one-on-one meetings can register for the event, which takes place in Las Vegas, and schedule in-person meetings. Vision Marine Technologies is dedicated to environmentally friendly boating solutions, focusing on reducing waterway pollution through electric power. Their flagship product, the E-Motion™ 180E, exemplifies innovative technology aimed at enhancing boating performance and sustainability.

Vision Marine Technologies Inc. (NASDAQ: VMAR) announced the appointment of Carter Murray as Chairman of its board of directors. Murray, known for his leadership in transformative corporate strategies, will collaborate with CEO Alex Mongeon to enhance innovation in the recreational boating sector. This move aims to leverage Vision Marine's advanced powertrain technology and electric engines, noted for achieving a record speed of 109 mph for electric boats. Murray's extensive experience in multinational companies will contribute to the company's mission of zero pollution and high-performance electric boating.

Vision Marine Technologies (NASDAQ: VMAR) has announced the opening of its second electric boat rental operation in Portside Ventura, California, set to open on April 1, 2023. This facility will support testing and training on Vision Marine's E-Motion™ 180E propulsion system for local boat manufacturers. Portside Ventura, attracting over 1 million tourists annually and generating over $1 billion in tourism revenue, is identified as an ideal location for this venture. The new operation follows the success of the first rental location in Newport Beach, which has achieved over 44,525 bookings to date.

Vision Marine Technologies (NASDAQ: VMAR) announced its participation in the 35th Annual ROTH Capital Investor Conference from March 12-14, 2023, at The Ritz Carlton, Laguna Niguel, California. The company will showcase its Four Winns H2e Bowrider, featuring the world’s most powerful electric powertrain, the E-Motion 180E. Investors interested in meeting with the Vision Marine team can arrange in-person or virtual meetings through Roth representatives. Vision Marine aims to revolutionize recreational boating by promoting zero pollution and zero emissions through its advanced electric marine powertrain technology.

Vision Marine Technologies (NASDAQ: VMAR) announced a definitive agreement to sell 475,059 common shares at $4.21 each, generating approximately $2 million in gross proceeds through a registered direct offering. Concurrently, the company will issue warrants to purchase the same amount of shares at the same price, exercisable after six months and expiring in three years. The offering, arranged by Roth Capital Partners, is expected to close on February 21, 2023. The proceeds will be utilized for working capital and general corporate purposes. The shares are offered under a previously filed registration statement with the SEC.

Vision Marine Technologies Inc. (NASDAQ: VMAR) and Four Winns are set to participate in the Miami International Boat Show from February 15-19, 2023. The companies have applied for the MIBS Innovation Awards with their 180hp Electric Bowrider, the H2e. Four Winns aims to launch the H2e production version, accepting orders during the event. Vision Marine will showcase the V32 HellKat, the fastest electric boat globally, recently achieving speeds over 109 MPH. The partnership highlights their commitment to advancing electric propulsion technology and enhancing sustainable boating experiences.