Vision Marine Technologies Secures Over US$11.7 Million Through At-the-Market Offering to Accelerate Growth and Strategic Acquisitions

Rhea-AI Summary

Vision Marine Technologies (NASDAQ:VMAR) has successfully completed an at-the-market (ATM) offering, raising US$11.75 million in gross proceeds and US$11.2 million in net proceeds. The company plans to use the funds for general corporate purposes and strategic acquisitions to expand market presence and enhance technological capabilities.

Following the ATM executions, Vision Marine's total outstanding common shares will be 5,522,029, with approximately US$7.1 million of cash available. The ATM offering was conducted through a sales agreement with Think Equity established on October 17, 2024, allowing share sales at prevailing market prices.

The company, which specializes in electric marine propulsion systems, aims to leverage this capital to accelerate growth and strengthen its position in the sustainable boating solutions market.

Positive

• Secured US$11.75 million in gross proceeds through ATM offering
• US$7.1 million cash position after offering completion
• Funds allocated for strategic acquisitions and market expansion

Negative

• Share dilution due to ATM offering increasing outstanding shares to 5,522,029
• Significant portion of raised capital (US$4.6M) not reflected in available cash balance

BOISBRIAND, QC / ACCESSWIRE / January 10, 2025 / Vision Marine Technologies Inc. ("Vision Marine") (NASDAQ:VMAR), a leader in electric marine propulsion systems, is pleased to announce the successful completion of an at-the-market ("ATM") offering, raising gross proceeds of approximately US$11.75 million and net proceeds of approximately US$11.2 million. We intend to use the net proceeds from the offering for general corporate purposes, including strategic acquisitions aimed at expanding our market presence and enhancing our technological capabilities.

Following the completion of today's ATM executions, the total number of common shares issued and outstanding will be 5,522,029, and Vision Marine will have approximately US$7.1 million of cash available.

This capital infusion positions Vision Marine to capitalize on the growing demand for sustainable boating solutions. By leveraging these funds, we aim to accelerate our growth trajectory and solidify our leadership in the electric marine propulsion sector.

"The successful completion of this ATM offering underscores investor confidence in our vision and strategy," said Alexandre Mongeon, CEO of Vision Marine. "We are committed to utilizing these resources to drive innovation, pursue strategic acquisitions, and deliver exceptional value to our shareholders and customers."

The ATM offering was conducted under an ATM sales agreement entered into with Think Equity on October 17, 2024, allowing the company to sell shares at prevailing market prices.

Vision Marine remains dedicated to advancing sustainable boating technologies and is excited about the opportunities this capital raise will unlock for future growth and innovation.

About Vision Marine Technologies inc.
Vision Marine Technologies, Inc. (NASDAQ:VMAR) is transforming the marine industry with its revolutionary E-Motion™ outboard powertrain system. Combining advanced battery technology, high-efficiency motors, proprietary software, and innovative assembly techniques, Vision Marine is driving the shift to sustainable, electric-powered recreational boating.

Forward-Looking Statement
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially. For a detailed discussion of these risks, refer to Vision Marine's Annual Report on Form 20-F for the year ended August 31, 2024, and other periodic filings with the SEC. Vision Marine does not undertake any obligation to update or revise forward-looking statements other than as required by law.

Investor Relations and Company 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 accesswire.com

FAQ

How much did Vision Marine Technologies (VMAR) raise in their latest ATM offering?

Vision Marine Technologies raised gross proceeds of US$11.75 million and net proceeds of US$11.2 million through their ATM offering completed in January 2024.

What is VMAR's current cash position after the January 2024 ATM offering?

Following the ATM offering, Vision Marine Technologies has approximately US$7.1 million of cash available.

How many shares are outstanding for VMAR after the January 2024 ATM offering?

After the ATM offering completion, Vision Marine Technologies has 5,522,029 common shares issued and outstanding.

What will Vision Marine Technologies use the ATM proceeds for?

Vision Marine Technologies plans to use the net proceeds for general corporate purposes and strategic acquisitions aimed at expanding market presence and enhancing technological capabilities.

When did VMAR enter into the ATM sales agreement with Think Equity?

Vision Marine Technologies entered into the ATM sales agreement with Think Equity on October 17, 2024.