Vision Marine Technologies Announces Approval of Stock Repurchase Program

Rhea-AI Summary

Vision Marine Technologies (NASDAQ:VMAR) has announced a stock repurchase program approved by its Board of Directors, authorizing the buyback of up to 5% of its issued and outstanding common shares. The company plans to implement this through a 10b-18 trading plan, with the timing and amount of repurchases to be determined according to the plan.

As of February 20, 2025, Vision Marine has 9,813,429 common shares outstanding and a cash balance of approximately $10.6 million. The company's CEO, Alexandre Mongeon, stated that while Vision Marine has made significant progress in marine electrification, the current stock price doesn't reflect the company's value and potential. The repurchase program aims to enhance shareholder value and demonstrate confidence in their vision for industrialized, turnkey electric powertrain solutions.

Positive

• Authorization to repurchase up to 5% of outstanding shares shows confidence in company value
• Strong cash position of $10.6 million available for share repurchases
• Implementation of 10b-18 trading plan demonstrates structured approach to buyback

Negative

• Current market challenges affecting microcap stock performance
• Cash used for buyback reduces funds available for operations and growth

News Market Reaction

-12.26%

1 alert

-12.26% News Effect

On the day this news was published, VMAR declined 12.26%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MONTRÉAL, QUEBEC / ACCESS Newswire / February 21, 2025 / Vision Marine Technologies Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company"), a pioneer in high-performance electric marine propulsion, today announced that its Board of Directors has approved the establishment of a stock repurchase program authorizing the repurchase of up to 5% of Vision Marine Technologies Inc.'s issued and outstanding common shares as of today. We intend to enter into a 10b-18 trading plan establishing such a program.

Vision Marine Technologies
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Alexandre Mongeon, Co-Founder and Chief Executive Officer of Vision Marine, commented:
"The Board of Directors recognizes the challenges faced by microcap stocks in the current market environment. While Vision Marine has made significant strides in the electrification of marine transportation, we believe our stock price does not accurately reflect the Company's value and long-term potential. We believe that the implementation of a stock repurchase program would take a strategic step to enhance shareholder value and demonstrate confidence in our vision to lead the industry with our industrialized, turnkey electric powertrain solutions."

Under this authorization, Vision Marine envisions repurchasing shares from time to time at its discretion through a 10b-18 trading plan. The timing and amount of any repurchases would be determined pursuant to such plan. As of February 20, 2025, the Company had 9,813,429 common shares issued and outstanding and a cash balance of approximately US$10.6 million.

About Vision Marine Technologies Inc.
Vision Marine Technologies Inc. (NASDAQ:VMAR) is revolutionizing the marine industry with its proprietary E-Motion™ electric powertrain technology. By integrating advanced battery systems, high-efficiency electric motors, and cutting-edge software, Vision Marine is driving the transition toward sustainable and emission-free recreational boating. The Company's mission is to redefine on-water experiences through innovation, efficiency, and environmental responsibility.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may include words such as "believe," "anticipate," "expect," "intend," "estimate," "may," "continue," "potential," and similar expressions to identify forward-looking statements. Such statements include, but are not limited to, the Company's stock repurchase program, the potential impact on shareholder value, and Vision Marine's long-term market positioning.
Forward-looking statements are based on management's expectations and assumptions as of the date of this press release. Actual results may differ materially due to risks and uncertainties, including market conditions, the Company's ability to execute the stock repurchase program as intended, and other factors discussed in Vision Marine's filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 20-F for the year ended August 31, 2024, and subsequent periodic reports. Vision Marine assumes no obligation to update or revise forward-looking statements, except as required by law.

Investor and Media Contact:
Bruce Nurse
(303) 919-2913
bn@v-mti.com

Website: visionmarinetechnologies.com
Twitter: @marine_vision
Facebook: @VisionMarineTechnologies
Instagram: @visionmarine.technologies
YouTube: @VisionMarineTechnologies

SOURCE: Vision Marine Technologies Inc

View the original press release on ACCESS Newswire

FAQ

How many shares can Vision Marine (VMAR) repurchase under the new program?

Vision Marine can repurchase up to 5% of its issued and outstanding common shares, based on 9,813,429 shares outstanding as of February 20, 2025.

What is the current cash position of Vision Marine (VMAR) for the stock buyback?

Vision Marine has approximately US$10.6 million in cash as of February 20, 2025.

When will Vision Marine (VMAR) begin its stock repurchase program?

The company plans to implement the repurchase program through a 10b-18 trading plan, with specific timing to be determined under the plan's guidelines.

Why is Vision Marine (VMAR) implementing a stock buyback program?

The company believes its stock price doesn't reflect its true value and long-term potential, and aims to enhance shareholder value while demonstrating confidence in its vision.