Vision Marine Technologies Raises US$11.7 Million in ATM Offering

Vision Marine Technologies Inc., specializing in electric marine propulsion systems, has successfully completed an at-the-market (ATM) offering. This effort raised gross proceeds of about US$11.75 million, with net proceeds reaching approximately US$11.2 million. These funds aim to support general corporate purposes and strategic acquisitions to broaden market presence and boost technological capabilities.

The completion of the offering increases the total number of common shares issued to 5,522,029. Vision Marine now holds around US$7.1 million in cash, positioning itself to meet the growing demand for sustainable boating solutions. The company plans to accelerate growth and strengthen its leadership in the electric propulsion sector.

CEO Alexandre Mongeon highlighted the confidence investors have in the company’s vision. The ATM offering was conducted under a sales agreement with Think Equity, made on October 17, 2024.