Vision Marine closes $7 million public offering of common stock

MONTRÉAL - Vision Marine Technologies Inc. (NASDAQ:VMAR) announced Monday the closing of its previously announced public offering of 3,500,000 shares of common stock at $2.00 per share, raising $7 million in gross proceeds before deducting underwriting discounts and offering expenses. The offering comes as the stock trades near its 52-week low, having declined over 80% in the past six months, according to InvestingPro data.

The electric marine propulsion systems company also granted underwriters a 45-day option to purchase up to an additional 525,000 shares or pre-funded warrants to cover over-allotments at the public offering price.

According to the company’s press release statement, Vision Marine intends to use the proceeds for general corporate purposes, working capital, and potential acquisitions or strategic investments in complementary businesses or technologies.

ThinkEquity served as the sole book-running manager for the offering, which was made through a registration statement on Form F-1 that became effective on August 15, 2025.

Vision Marine Technologies designs and manufactures electric outboard systems for boats, including its E-Motion 180E high-voltage electric outboard system. The company also operates Nautical Ventures, a retail division with nine locations in Florida that sells both electric and internal combustion engine boats.

The offering comes as the company continues its focus on electric marine propulsion technology for recreational boaters and commercial operators. Get access to 16 additional InvestingPro exclusive insights and comprehensive financial analysis to make informed investment decisions.

In other recent news, Vision Marine Technologies Inc. announced the pricing of its public offering, raising $7 million in gross proceeds by selling 3.5 million shares at $2.00 per share. The offering also includes pre-funded warrants and gives underwriters a 45-day option to purchase up to an additional 525,000 shares. In a strategic move, Vision Marine has expanded its partnership with Octillion Power Systems, which will manufacture high-voltage lithium-ion battery packs for Vision Marine’s E-Motion 180E electric outboard system at its Nevada facility. This collaboration aims to enhance the distribution of Vision-branded battery packs in the U.S. market. Additionally, Vision Marine has promoted Daniel Rathe to Chief Technical Officer as the company moves from product development to commercial deployment of its propulsion systems. The company has also achieved a significant milestone with its E-Motion 180E electric marine propulsion system qualifying for California’s CORE Voucher Incentive Project. This approval allows for up to $170,000 in per-unit vouchers, potentially boosting adoption among California’s commercial vessels.

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