Vision Marine Technologies Initiates Stock Repurchase Program

Vision Marine Technologies Inc. (NASDAQ:VMAR), a leader in electric marine propulsion, has announced the initiation of a stock repurchase program. Approved by the Board of Directors, the program allows for the buyback of up to 5% of the company's currently issued and outstanding common shares. This move reflects the company's belief that its stock is undervalued in the current market.

Co-Founder and CEO Alexandre Mongeon highlighted the strategic intent behind this decision. While acknowledging recent challenges in the market for microcap stocks, Mongeon emphasized the company's advances in electrifying marine transport. He sees the repurchase plan as a step to enhance shareholder value.

Vision Marine will enact this program through a 10b-18 trading plan. The plan will be executed at the discretion of the company. As of February 20, 2025, Vision Marine reported 9,813,429 common shares outstanding and a cash reserve of approximately USD 10.6 million.