Vision Marine completes US$16.3 million market value stock offering
Vision Marine Technologies Inc. announced on Tuesday that its previously announced market price stock issuance plan has been successfully completed, raising a total of approximately US$16.3 million in total proceeds. The ship electric propulsion technology company headquartered in Boisbriand, Quebec, said that the plan was launched on January 23, 2026, and has been fully implemented. According to the announcement, the company issued a total of 6,380,235 ordinary shares under the market price issuance plan, with total proceeds of US$16,334,922. After deducting transaction costs of US$782,679, the net income was approximately US$15.55 million. Upon completion of the offering, Vision Marine has 6,530,460 shares of common stock outstanding and approximately $9.5 million in unrestricted consolidated cash. CEO and co-founder Alexandre Mongeon said that the completion of the market-priced issuance plan and the non-dilutive capital expected to be brought by the pending real estate transactions will help the company continue to advance the execution of its strategy. Chief Financial Officer Raffi Sossoyan pointed out that this completion is an important milestone in strengthening the company's financial position. The company has achieved positive operating cash flow in the first nine months of fiscal year 2026. In addition, the Company's previously announced pending real estate transactions in Florida, if completed as planned, are expected to generate gross sales proceeds of approximately $13.1 million and net equity proceeds of approximately $5.58 million, which will provide further financial flexibility and will not involve the issuance of additional equity. ThinkEquity served as the exclusive sales agent for the market price issuance plan.