Vision Marine Technologies (Nasdaq: VMAR), a leader in electric marine propulsion, has announced a $3.4 million offering of 3,400,000 common shares priced at $1.00 per share. The offering, expected to close on September 16, 2024, aims to raise funds primarily for working capital and patent applications. ThinkEquity is acting as the sole placement agent for this best-efforts offering. The company may also consider using part of the proceeds for strategic acquisitions or investments in complementary businesses or technologies, although no specific targets have been identified. This offering is being conducted under Vision Marine’s shelf registration statement on Form F-3, which was declared effective on December 21, 2022.
Vision Marine Technologies (Nasdaq: VMAR), un leader nella propulsione elettrica marittima, ha annunciato un emissione di $3,4 milioni di 3.400.000 azioni ordinarie al prezzo di $1,00 per azione. L’emissione, prevista per chiudere il 16 settembre 2024, ha l’obiettivo di raccogliere fondi principalmente per capitale circolante e domande di brevetto. ThinkEquity funge da unico agente di collocamento per questa offerta basata sui migliori sforzi. L’azienda potrebbe anche considerare di utilizzare parte del ricavato per acquisizioni strategiche o investimenti in attività o tecnologie complementari, sebbene non siano stati identificati obiettivi specifici. Questa emissione è condotta sotto la dichiarazione di registrazione a scaffale di Vision Marine in formato F-3, che è stata dichiarata efficace il 21 dicembre 2022.
Vision Marine Technologies (Nasdaq: VMAR), un líder en propulsión marina eléctrica, ha anunciado una oferta de $3,4 millones de 3.400.000 acciones comunes a un precio de $1.00 por acción. Se espera que la oferta cierre el 16 de septiembre de 2024 y tiene como objetivo recaudar fondos principalmente para capital de trabajo y solicitudes de patentes. ThinkEquity actúa como el único agente de colocación para esta oferta de mejores esfuerzos. La empresa también podría considerar usar parte de los ingresos para adquisiciones estratégicas o inversiones en negocios o tecnologías complementarias, aunque no se han identificado objetivos específicos. Esta oferta se realiza bajo la declaración de registro en estantería de Vision Marine en el Formulario F-3, que fue declarada efectiva el 21 de diciembre de 2022.
비전 마린 테크놀로지스(Nasdaq: VMAR), 전기 해양 추진의 선두주자는 340만 달러의 공모를 발표했습니다. 3,400,000주를 주당 1.00달러에 가격을 책정했습니다. 2024년 9월 16일에 마감될 예정인 이번 공모의 주요 목적은 운전 자본과 특허 신청을 위한 자금을 모으는 것입니다. ThinkEquity는 이번 최선의 노력 기반의 공모에 대한 유일한 배급 대행사로 활동하고 있습니다. 이 회사는 또한 수익의 일부를 전략적 인수 또는 투자에 사용할 것을 고려할 수 있지만, 특정 목표는 아직 확인되지 않았습니다. 이 공모는 비전 마린의 F-3 양식으로 등록된 선반 등록 성명서에 따라 진행되며, 이는 2022년 12월 21일에 효력이 발생했습니다.
Vision Marine Technologies (Nasdaq: VMAR), un leader dans la propulsion marine électrique, a annoncé une émission de 3,4 millions de dollars de 3 400 000 actions ordinaires au prix de 1,00 dollar par action. L’émission, qui devrait se clôturer le 16 septembre 2024, vise à lever des fonds principalement pour le fonds de roulement et les demandes de brevet. ThinkEquity agit en tant qu’agent de placement unique pour cette offre de meilleures efforts. L’entreprise pourrait également envisager d’utiliser une partie des recettes pour des acquisitions stratégiques ou des investissements dans des entreprises ou technologies complémentaires, bien qu’aucun objectif spécifique n’ait été identifié. Cette émission est réalisée sous le cadre d’une déclaration d’enregistrement de Vision Marine au format F-3, qui a été déclarée effective le 21 décembre 2022.
Vision Marine Technologies (Nasdaq: VMAR), ein führendes Unternehmen in der elektrischen Schifffahrt, hat ein Wertpapierangebot von 3,4 Millionen Dollar für 3.400.000 Stammaktien zu einem Preis von 1,00 Dollar pro Aktie angekündigt. Das Angebot, das voraussichtlich am 16. September 2024 geschlossen wird, zielt darauf ab, Mittel hauptsächlich für Betriebskapital und Patentanmeldungen zu beschaffen. ThinkEquity fungiert als alleiniger Platzierungsagent für dieses Angebot auf Best-Efforts-Basis. Das Unternehmen könnte auch in Betracht ziehen, einen Teil der Erlöse für strategische Akquisitionen oder Investitionen in ergänzende Geschäfte oder Technologien zu verwenden, obwohl keine spezifischen Ziele identifiziert wurden. Dieses Angebot wird gemäß der Shelf-Registrierungserklärung von Vision Marine im Formular F-3 durchgeführt, die am 21. Dezember 2022 für wirksam erklärt wurde.
Positive
- Raised $3.4 million through a common share offering
- Funds to be used for working capital and patent applications
- Potential for strategic acquisitions or investments in complementary technologies
Negative
- Dilution of existing shareholders due to new share issuance
- Low offering price of $1.00 per share may indicate weak market demand
- Best-efforts offering structure suggests uncertainty in fully placing the shares
Vision Marine’s
The intended use of proceeds for working capital and patent applications indicates ongoing cash burn and a need to protect intellectual property. However, the lack of specific growth initiatives or R&D investments in the use of proceeds is concerning. The mention of potential acquisitions without identified targets adds uncertainty to the company’s strategic direction.
Investors should closely monitor Vision Marine’s cash runway and progress in commercializing its E-Motion™ technology to assess the long-term impact of this dilutive offering.
Vision Marine’s E-Motion™ outboard powertrain system represents a significant technological advancement in marine propulsion. The integration of advanced battery packs, inverters and high-efficiency motors with proprietary software demonstrates a comprehensive approach to electric boating.
However, the need for additional capital through this offering raises questions about the commercialization timeline and market adoption rate of their technology. The focus on patent applications suggests a defensive strategy to protect their innovations, which is important in the competitive electric vehicle market.
The success of Vision Marine will largely depend on their ability to scale production, reduce costs and establish a strong market presence before larger competitors enter the space. Investors should watch for partnerships with boat manufacturers and key performance metrics in future reports.
MONTREAL, QC / ACCESSWIRE / September 13, 2024 / Vision Marine Technologies, Inc. (Nasdaq:VMAR) (“Vision Marine” or the “Company”), a pioneer in electric marine propulsion, today announced the pricing of a best-efforts offering of 3,400,000 common shares. Each common share is being sold at an offering price of
The Company intends to use the net proceeds from the offering primarily for working capital purposes and prosecuting patent applications. The Company may also use a portion of the net proceeds from this offering for acquisitions or strategic investments in complementary businesses or technologies, however, no acquisition targets have been identified.
ThinkEquity is acting as sole placement agent for the offering.
The securities described above are being offered and sold by the Company pursuant to a shelf registration statement on Form F-3 (File No. 333-267893), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 14, 2022 and declared effective on December 21, 2022. The offering is being made only by means of a written prospectus. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and can be accessed for free on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Vision Marine Technologies Inc.
Vision Marine Technologies Inc. (Nasdaq:VMAR) epitomizes the marine industry’s shift towards electric propulsion, offering the pioneering E-Motion™ 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 eco-friendly 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.
Forward-Looking Statements
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include predictions, expectations, estimates, and other information that might be considered future events or trends, not relating to historical matters. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Vision Marine’s Annual Report on Form 20-F for the year ended August 31, 2023, and its periodic filings with the SEC provide a detailed discussion of these risks and uncertainties. There can be no assurance that Vision Marine will be able to complete the offering on the anticipated terms, or at all. Vision Marine does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, as required by law.
Website: visionmarinetechnologies.com
Twitter: @marine_vision
Facebook: @VisionMarineTechnologies
Instagram: @visionmarine.technologies
YouTube: @VisionMarineTechnologies
Investor and Company Contact:
Bruce Nurse
(303) 919-2913
bn@v-mti.com
SOURCE: Vision Marine Technologies Inc
View the original press release on accesswire.com
FAQ
What is the purpose of Vision Marine Technologies’ $3.4 million offering?
Vision Marine Technologies (VMAR) is raising $3.4 million primarily for working capital purposes and to prosecute patent applications. The company may also use a portion of the proceeds for potential acquisitions or strategic investments in complementary businesses or technologies.
How many shares is Vision Marine Technologies (VMAR) offering and at what price?
Vision Marine Technologies (VMAR) is offering 3,400,000 common shares at a price of $1.00 per share in a best-efforts offering.
When is the expected closing date for Vision Marine Technologies’ (VMAR) offering?
The offering by Vision Marine Technologies (VMAR) is expected to close on September 16, 2024, subject to satisfaction of customary closing conditions.
Who is the placement agent for Vision Marine Technologies’ (VMAR) $3.4 million offering?
ThinkEquity is acting as the sole placement agent for Vision Marine Technologies’ (VMAR) $3.4 million offering.