Vision Marine Technologies Inc SEC Filings

Lincoln Alternative Strategies LLC disclosed beneficial ownership of 750,000 shares of Vision Marine Technologies Inc. (CUSIP 92840Q301), representing 16.10% of the company's 4,657,137 outstanding common shares as of August 15, 2025. The filing states the shares are owned with sole voting and dispositive power by the reporting person. The statement is submitted on Schedule 13G and includes a certification that the shares were not acquired to change or influence control of the issuer.

Vision Marine Technologies Inc. (VMAR) received an initial Form 3 from Lincoln Alternative Strategies LLC reporting beneficial ownership of common stock. The filing shows Lincoln Alternative Strategies LLC directly owns 750,000 shares of common stock. The reporting person is identified with an address in Miami Beach, FL, and checked relationship roles that include Director and 10% owner. The event requiring the statement is dated 08/15/2025, and the form was signed by Stephen Temes on 08/27/2025. No derivative securities are reported on Table II.

3i, LP, 3i Management LLC and Maier Joshua Tarlow filed a Schedule 13G reporting beneficial ownership tied to Vision Marine Technologies Inc. (CUSIP 92840Q301). The filing discloses that the Reporting Persons hold warrants exercisable for 40,000 common shares, representing 1.1% of the class based on 3,232,137 Common Shares outstanding after the offering. The statement explains that 3i previously held approximately 8.5% following the offering and exercised an aggregate of 475,000 pre-funded warrants, but all issuer securities deemed beneficially owned as a consequence of the offering have since been disposed, making this an exit filing. Voting and dispositive power over the 40,000 warrants is shared among the Reporting Persons.

Vision Marine Technologies Inc. (VMAR) filed a prospectus for a registered offering that would increase shares outstanding from 1,157,137 to 4,657,137 (5,182,137 if over-allotment exercised). Net proceeds are estimated at approximately US$6,228,629 (US$7,199,879 with full over-allotment). The filing presents pro forma financials reflecting the acquisition of Nautical Ventures and discloses convertible note arrangements totaling US$4.0M (convertible at US$8.624/share) and a potential additional US$2.0M note tied to contingent claims, with minimum monthly payments. The company highlights its E-Motion electric powertrain prototype with 96% efficiency versus a recorded competitor efficiency of 54%, technical specs and supplier relationships. Material risk disclosures include a current net loss, substantial doubt about going concern, reliance on key suppliers, seasonal demand volatility, recent litigation and a marina fire in Oct 2024 with one fatality, and a May 2025 settlement requiring issuance of 250,000 shares subject to court approval. The company’s common shares trade on Nasdaq under VMAR.