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Vision Marine Technologies Announces Closing of Private Placement

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private placement

Vision Marine Technologies (NASDAQ:VMAR) has closed its previously announced brokered private placement, raising approximately US$5.9 million in gross proceeds before fees and expenses. The offering consisted of units priced at US$1.25 each, comprising:

- 4,706,400 Common Shares (or Pre-funded Warrants)
- Common Warrants to purchase 2,353,200 common shares

The Common Warrants are exercisable at US$1.50 per share for 5.5 years, while Pre-funded Warrants have an exercise price of C$0.001. ThinkEquity served as the exclusive placement agent. The company plans to use proceeds for working capital and general corporate purposes. The securities have not been registered under the Securities Act and are subject to registration requirements for resale.

Vision Marine Technologies (NASDAQ:VMAR) ha concluso il suo precedente collocamento privato tramite intermediari, raccogliendo circa 5,9 milioni di dollari USA in proventi lordi prima delle spese e delle commissioni. L'offerta comprendeva unità quotate a 1,25 dollari USA ciascuna, comprendenti:

- 4.706.400 azioni ordinarie (o warrant prefinanziati)
- Warrant comuni per l'acquisto di 2.353.200 azioni ordinarie

I warrant comuni possono essere esercitati a 1,50 dollari USA per azione per 5,5 anni, mentre i warrant prefinanziati hanno un prezzo di esercizio di C$0,001. ThinkEquity ha svolto il ruolo di agente esclusivo per il collocamento. La società prevede di utilizzare i proventi per il capitale circolante e per scopi aziendali generali. I titoli non sono stati registrati ai sensi del Securities Act e sono soggetti a requisiti di registrazione per la rivendita.

Vision Marine Technologies (NASDAQ:VMAR) ha cerrado su colocación privada mediada previamente anunciada, recaudando aproximadamente 5.9 millones de dólares estadounidenses en ingresos brutos antes de tarifas y gastos. La oferta consistió en unidades con un precio de 1.25 dólares estadounidenses cada una, que consisten en:

- 4,706,400 acciones comunes (o warrants prefinanciados)
- Warrants comunes para comprar 2,353,200 acciones comunes

Los warrants comunes son ejercitables a 1.50 dólares estadounidenses por acción durante 5.5 años, mientras que los warrants prefinanciados tienen un precio de ejercicio de C$0.001. ThinkEquity fue el agente de colocación exclusivo. La empresa planea utilizar los ingresos para capital de trabajo y fines corporativos generales. Los valores no han sido registrados bajo la Ley de Valores y están sujetos a requisitos de registro para la reventa.

비전 마린 테크놀로지스 (NASDAQ:VMAR)는 이전에 발표된 중개인 사적 배치를 종료하며, 수수료 및 비용 이전에 약 590만 달러의 총 수익을 올렸습니다. 이 제안은 1.25 달러의 가격으로 가격이 책정된 유닛으로 구성되어 있습니다:

- 4,706,400 보통주 (또는 선불 워런트)
- 2,353,200 보통주를 구매하는 보통 워런트

보통 워런트는 주당 1.50 달러에 5.5년 동안 행사할 수 있으며, 선불 워런트의 행사 가격은 C$0.001입니다. ThinkEquity는 독점적인 배치 에이전트로 활동했습니다. 회사는 자금을 운영 자본 및 일반 기업 용도로 사용할 계획입니다. 이 증권은 증권법에 따라 등록되지 않았으며 재판매에 대한 등록 요건이 적용됩니다.

Vision Marine Technologies (NASDAQ:VMAR) a clôturé son placement privé par intermédiaire précédemment annoncé, levant environ 5,9 millions de dollars américains en produits bruts avant frais et dépenses. L'offre était composée d'unités au prix de 1,25 dollar américain chacune, comprenant :

- 4 706 400 actions ordinaires (ou bons de souscription préfinancés)
- Bons de souscription ordinaires pour acheter 2 353 200 actions ordinaires

Les bons de souscription ordinaires sont exerçables à 1,50 dollar américain par action pendant 5,5 ans, tandis que les bons de souscription préfinancés ont un prix d'exercice de C$0,001. ThinkEquity a agi en tant qu'agent de placement exclusif. La société prévoit d'utiliser les produits pour le fonds de roulement et à des fins d'entreprise générales. Les titres n'ont pas été enregistrés en vertu de la Loi sur les valeurs mobilières et sont soumis à des exigences d'enregistrement pour la revente.

Vision Marine Technologies (NASDAQ:VMAR) hat seine zuvor angekündigte vermittelte Privatplatzierung abgeschlossen und dabei etwa 5,9 Millionen US-Dollar an brutto Erlösen vor Gebühren und Ausgaben gesammelt. Das Angebot bestand aus Einheiten, die zu einem Preis von 1,25 US-Dollar pro Einheit angeboten wurden und beinhaltete:

- 4.706.400 Stammaktien (oder vorfinanzierte Warrants)
- Stammwarrants zum Kauf von 2.353.200 Stammaktien

Die Stammwarrants sind für 1,50 US-Dollar pro Aktie über 5,5 Jahre ausübbar, während die vorfinanzierten Warrants einen Ausübungspreis von C$0,001 haben. ThinkEquity fungierte als exklusiver Platzierungsagent. Das Unternehmen plant, die Erlöse für Betriebskapital und allgemeine Unternehmenszwecke zu verwenden. Die Wertpapiere sind nicht gemäß dem Securities Act registriert und unterliegen den Registrierungsanforderungen für den Weiterverkauf.

Positive
  • Secured US$5.9 million in new capital funding
  • 5.5-year warrant duration provides long-term funding potential
Negative
  • Potential dilution from 4.7M new shares plus 2.35M warrant shares
  • Offering price of $1.25 per unit may pressure current share value
  • Additional dilution possible from warrant exercises

Insights

Vision Marine's $5.9 million private placement at $1.25 per unit represents a significant capital raise for a micro-cap company with a market value around $10.4 million. The structure, combining common shares with warrants at a $1.50 strike price, suggests a substantial dilution for existing shareholders. The warrant exercise price premium of 20% above the unit price indicates some optimism about future value appreciation.

The offering's pricing below recent trading levels and the inclusion of pre-funded warrants point to challenging market conditions for raising capital. The 5.5-year warrant duration provides extended optionality for investors but also signals potential ongoing pressure on the stock as these instruments approach profitability. The working capital use of proceeds, rather than specific growth initiatives, suggests this was a necessary financing to maintain operations.

In simpler terms: The company needed cash and had to offer attractive terms to get investors interested. While they succeeded in raising money, the deal terms could make it harder for the stock price to rise in the near term due to the number of new shares that could enter the market.

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 closing of its previously announced brokered private placement offering with accredited and institutional 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 lieu thereof) together with warrants (each a "Common Warrant") to purchase one-half of the number of Common Shares (or Pre-funded Warrants) of the Company at a price of US$1.25 per unit, for aggregate gross proceeds of approximately US$5.9 million, before deducting fees and offering expenses.

As part of the offering, the Company issued a combination of 4,706,400 Common Shares (or Pre-funded Warrants in lieu thereof), and Common Warrants to purchase 2,353,200 common shares. Each Pre-funded Warrant entitles the holder to acquire one common share at an exercise price of C$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 US$1.50 per share, for a period of five and one-half years following 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 the exclusive placement agent for the Offering.

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 absent 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 Pre-funded Warrants and the Common Warrants to be issued in the private placement. Any resale of the Company's shares under such resale registration statement will be made only 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 any such state or jurisdiction. The securities will not be registered under the Securities Act or any state securities laws when issued at the closing of the private placement, and unless so registered, may not be offered or sold in the United States except pursuant to 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 to sustainable, electric-powered recreational boating.
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



View the original press release on ACCESS Newswire

FAQ

How much did Vision Marine Technologies (VMAR) raise in its January 2024 private placement?

Vision Marine Technologies raised approximately US$5.9 million in gross proceeds before deducting fees and offering expenses.

What is the exercise price of VMAR's Common Warrants from the January 2024 offering?

The Common Warrants have an exercise price of US$1.50 per share and are exercisable for 5.5 years following the closing.

How many new shares did VMAR issue in the January 2024 private placement?

VMAR issued 4,706,400 Common Shares (or Pre-funded Warrants) and Common Warrants to purchase an additional 2,353,200 common shares.

What was the unit price for VMAR's January 2024 private placement?

The units were priced at US$1.25 each in the private placement.

How will VMAR use the proceeds from its January 2024 private placement?

Vision Marine Technologies intends to use the proceeds for working capital and general corporate purposes.

Vision Marine Technologies Inc. Common Shares

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