Vision Marine Technologies Secures Over US$11.7 Million Through At-the-Market Offering to Accelerate Growth and Strategic Acquisitions
RBGPF
69.0200
The China Mail - Vision Marine Technologies Secures Over US$11.7 Million Through At-the-Market Offering to Accelerate Growth and Strategic Acquisitions
USD
-
AED 3.672995
AFN 71.548685
ALL 89.774885
AMD 390.742248
ANG 1.790208
AOA 916.00041
ARS 1074.379902
AUD 1.595705
AWG 1.8
AZN 1.695264
BAM 1.768195
BBD 2.01763
BDT 121.408553
BGN 1.76809
BHD 0.376983
BIF 2969.894223
BMD 1
BND 1.335232
BOB 6.904439
BRL 5.6329
BSD 0.999277
BTN 85.310551
BWP 13.830576
BYN 3.270138
BYR 19600
BZD 2.007233
CAD 1.409035
CDF 2873.00026
CHF 0.855965
CLF 0.024745
CLP 949.55983
CNY 7.28155
CNH 7.255015
COP 4153.75
CRC 503.480698
CUC 1
CUP 26.5
CVE 99.688093
CZK 22.679986
DJF 177.940512
DKK 6.74566
DOP 63.104602
DZD 132.82796
EGP 50.586303
ERN 15
ETB 131.535666
EUR 0.904055
FJD 2.314902
FKP 0.770718
GBP 0.764365
GEL 2.750292
GGP 0.770718
GHS 15.488654
GIP 0.770718
GMD 71.509021
GNF 8647.500226
GTQ 7.712684
GYD 209.058855
HKD 7.777365
HNL 25.566404
HRK 6.8103
HTG 130.756713
HUF 364.720332
IDR 16744.7
ILS 3.702497
IMP 0.770718
INR 85.13835
IQD 1309.013652
IRR 42099.999667
ISK 130.450126
JEP 0.770718
JMD 157.390833
JOD 0.708899
JPY 146.102057
KES 129.160137
KGS 86.711602
KHR 3996.926137
KMF 450.492896
KPW 900.05404
KRW 1441.279882
KWD 0.30766
KYD 0.832746
KZT 500.949281
LAK 21648.13308
LBP 89589.614475
LKR 296.754362
LRD 199.855348
LSL 18.834644
LTL 2.95274
LVL 0.60489
LYD 4.832294
MAD 9.503842
MDL 17.846488
MGA 4557.454118
MKD 55.58416
MMK 2099.453956
MNT 3493.458295
MOP 8.006871
MRU 39.710695
MUR 45.370301
MVR 15.401473
MWK 1732.754724
MXN 19.948597
MYR 4.4205
MZN 63.910237
NAD 18.834644
NGN 1535.589933
NIO 36.768827
NOK 10.34931
NPR 136.4967
NZD 1.74303
OMR 0.385038
PAB 0.999277
PEN 3.669288
PGK 4.122593
PHP 56.859789
PKR 280.290751
PLN 3.822697
PYG 8017.358286
QAR 3.642528
RON 4.501304
RSD 105.925995
RUB 84.067797
RWF 1425.910858
SAR 3.751621
SBD 8.316332
SCR 14.301529
SDG 600.498421
SEK 9.785955
SGD 1.334225
SHP 0.785843
SLE 22.750135
SLL 20969.501083
SOS 571.105687
SRD 36.549874
STD 20697.981008
SVC 8.743332
SYP 13002.701498
SZL 18.841877
THB 34.140285
TJS 10.876865
TMT 3.5
TND 3.05759
TOP 2.342103
TRY 37.955403
TTD 6.775156
TWD 32.942994
TZS 2660.000012
UAH 41.249706
UGX 3641.623723
UYU 42.211373
UZS 12905.704728
VES 70.161515
VND 25805
VUV 123.569394
WST 2.832833
XAF 593.035892
XAG 0.031727
XAU 0.000323
XCD 2.70255
XDR 0.737546
XOF 593.035892
XPF 107.820269
YER 245.649423
ZAR 18.771204
ZMK 9001.256834
ZMW 27.754272
ZWL 321.999592
- 'Don't want to die': Lesotho HIV patients look to traditional medicine
- Curry scores 37 as Warriors outgun LeBron's Lakers
- Crops under threat as surprise March heatwave hits Central Asia: study
- Japan PM says Trump tariffs a 'national crisis'
- South Korea court ousts impeached president Yoon
- Security 'breakdown' allows armed men into Melbourne's MCG
- Norris fastest in Japan GP first practice, Tsunoda sixth on Red Bull debut
- Albon says Thailand taking bid for F1 race 'very seriously'
- 'It's gone': conservation science in Thailand's burning forest
- Protest as quake-hit Myanmar junta chief joins Bangkok summit
Vision Marine Technologies Secures Over US$11.7 Million Through At-the-Market Offering to Accelerate Growth and Strategic Acquisitions
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
[email protected]
Website: visionmarinetechnologies.com
Twitter: @marine_vision
Facebook: @VisionMarineTechnologies
Instagram: @visionmarine.technologies
YouTube: @VisionMarineTechnologies
SOURCE: Vision Marine Technologies Inc
B.Carter--ThChM
