Vision Marine Technologies (NASDAQ: VMAR), a pioneer in electric marine propulsion, is reporting on the pricing of a best-efforts offering. The offering is comprised of 3,400,000 common shares, with each share sold at $1 per share. According to the announcement, all of the common shares in the offering are being offered by the company. The offering, which is expected to close on Sept. 16, 2024, is estimated to result in $3.4 million in gross proceeds before the deduction of placement agent fees and other standard offering expenses. VMAR anticipates using funds from the offering for working capital and patent application as well as possible acquisitions or strategic investments in complementary businesses or technologies. ThinkEquity is acting as sole placement agent for the offering.
To view the full press release, visit https://ibn.fm/4cuJz
About Vision Marine Technologies Inc.
Vision Marine Technologies epitomizes the marine industry’s shift toward electric propulsion, offering the pioneering E-Motion(TM) outboard powertrain system. This innovative technology represents a significant leap forward in marine propulsion, combining advanced battery packs, inverters and high-efficiency motors with proprietary software and assembly techniques. Vision Marine’s commitment to ecofriendly electric powerboats is reshaping the recreational boating experience, offering higher speeds, longer ranges and smoother rides than traditional internal combustion engine boats. With a focus on design, innovation and craftsmanship, Vision Marine continues to redefine recreational boating for a more sustainable future. For more information about the company, please visit www.VisionMarineTechnologies.com.
NOTE TO INVESTORS: The latest news and updates relating to VMAR are available in the company’s newsroom at http://ibn.fm/VMAR
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