MONTRÉAL, QC / ACCESS Newswire / January 16, 2025 / Vision Marine Technologies Inc. (the “Company”, “Vision Marine”, “we”, “us”, “our”) (NASDAQ:VMAR), a leading innovator in electric marine propulsion, today announced the closure of its business previously announced. private placement offering negotiated with institutional and accredited investors for the issuance and sale of units consisting of common shares (each, a “Common Share”) (or pre-funded warrants (each, a “pre-funded warrant”) in its place) together with warrants (each a “Common Warrant”) to purchase one-half the number of Common Shares (or Prefunded Warrants) of the Company at a price of US$1.25 per unit, for income Total grosses of approximately US$5.9 million, before deducting fees and bid. bills.
As part of the offering, the Company issued a combination of 4,706,400 shares of common stock (or pre-funded warrants in lieu) and common warrants to purchase 2,353,200 shares of common stock. Each Prefunded Warrant entitles the holder to acquire one common share at an exercise price of CAD$0.001 per share, and each Common Warrant is immediately exercisable and entitles the holder to acquire one common share at an exercise price of 1. US$50 per share, for a period of five and a half years after the closing of the offering.
The Company intends to use the proceeds from the offering for working capital and general corporate purposes.
ThinkEquity acted as exclusive placement agent for the Offer.
The securities offered and sold by the Company in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or state securities laws and may not be offered or sold in the United States. United without registration. with the Securities and Exchange Commission (the “SEC”) or an applicable exemption from such registration requirements. The Company has agreed to file a registration statement with the SEC covering the resale of the Common Shares, the Common Shares underlying the Prefunded Warrants and the Common Warrants to be issued in the private placement. Any resale of shares of the Company pursuant to such resale registration statement will be made solely by means of a prospectus.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification. under the securities laws of such state or jurisdiction. The securities will not be registered under the Securities Act or any state securities laws when issued upon the closing of the private placement and, unless so registered, may not be offered or sold in the United States except in accordance with an exemption from the registration requirements of the Securities Act and applicable state laws.
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 toward sustainable recreational boating with electric propulsion.
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 could be considered future events or trends, which are not related to with historical issues. 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 that it will be able to complete the offering at all. Vision Marine undertakes no 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 (NASDAQ:): @VisionMarineTechnologies
Instagram: @visionmarine.technologies
YouTube: @VisionMarineTechnologies
Contact of investors and companies:
bruce nurse
(303) 919-2913
bn@v-mti.com
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